Business Return preparation

[Adeola1970]

I just bought the Turbotax Home & Business software so that I can use it to prepare my business tax return. I have a sub-chapter S corporation. Can the software do it? How do i go straight to the business return preparation without doing the personal return first. When i launched the software, it didn't give me an option for business tax return. Does the software support tax return for S corporation?

[VolvoGirl]

Sorry no.  You need Turbo Tax Business.

The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return.   It  is a separate program from the Desktop Home & Business program or the Online Self Employed version.

Home & Business Desktop program or the Online Self Employed version is for personal returns that include a schedule C for self employment or sole proprietor. A single owner LLC would be reported on Schedule C unless the LLC elected to be treated as an S corp or C corp.

You will get a schedule K-1 (or a W2) from the business return to manually enter into your personal 1040 return.

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.

https://turbotax.intuit.com/small-business-taxes

[JRPHOTO]

How do i get help from a live person with TurboTax Business?  I just paid $169.99 and cant find where to get help from a live person.  Johnny 

[VolvoGirl]

Contact Customer Service

 You  need to pick the CD/Download program in the product drop down box.   
5am-5pm Pacific Time Monday -Friday
https://support.turbotax.intuit.com/contact/

What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

[JRPHOTO]

Does TurboTax Business provide for completing and filing the 941 quarterly and the 940 annually?

If so, how?  I see that I does 1099s and W-2, but there is nothing about 940 or 941.

[AmeliesUncle]

No, TurboTax does income taxes.  It does not do payroll taxes, sales taxes, excise taxes or other kinds of taxes.  Only income taxes.

For a corporation, it REALLY is in your best interest to go to a tax professional for the corporate returns.

[maculligan]

How do I download Turbo Tax Business 2021?

[DoninGA]

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@maculligan wrote:

How do I download Turbo Tax Business 2021?

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Go to this TurboTax website for the 2021 Business Edition - https://turbotax.intuit.com/small-business-taxes/

[VolvoGirl]

Did you buy it yet?  

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.

https://turbotax.intuit.com/small-business-taxes

Desktop Windows System Requirements

https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-...

Access your downloads here

https://shop.turbotax.intuit.com/commerce/account/secure/login.jsp?pagecontext=download

How to download your software purchase

https://ttlc.intuit.com/community/installing/help/how-do-i-download-the-software-i-purchased-at-turb...