Can I use TurboTax Self Employed if I am an S Corp?

[Carl]

No. You have to use TurboTax Business (different from Home & Business) to file an 1120-S tax return for the S-Corp. Using that program, the S-Corp will issue you a K-1, which you will need for your personal tax return. So you can't even start your personal return, until you have completed the 1120-S corporate tax return.

TurboTax Business is not available as an online product, and is not available for MACs. Windows only. You can purchase the CD/Download that you will download and physically install on your windows computer at https://turbotax.intuit.com/small-business-taxes/?srqs=null&cid=ppc_gg_b_stan_all_na_Brand-Business_...

[r_schleufer]

I think this needs more clarity.

I have a CPA handle my S-Corp to generate the 1120-S and K-1.

Which version of TurboTax is needed for my personal returns? Small Business, since I operate from a home office?

[DeanM15]

If you have a CPA handle the S-Corp return, then you would need Premier to process the 1120-S, K1 and W2.

For your home office, you would either have to have the S-corp pay you rent for the home office or pay you for the costs of a home office under an accountable plan for employee business expense reimbursement. You can find more information here.

In either case Premier would be fine. 

@r_schleufer

[sjlocke]

You don't need Premiere.  Deluxe works just fine and handles those things.

[Keirsten1]

What if I'm the only officer and no employees? Can I use home and business for my S Corp? I don't have any shareholders. 

[Carl]

Can I use home and business for my S Corp?

No. An S-Corp is treated as a separately taxable entity and therefore must file it's own 1120-S tax return. So you will have to use TurboTax Business for that.

TurboTax Business is only available for the Windows operating system. It's not available for MAC or as an online product.

Now when your S-Corp issues you the K-1, you can use Premier or higher so you can enter the K-1 information into your personal tax return. ( I'm not sure if the online version of Deluxe handle's K-1's)

[eric2]

"TurboTax Business is only available for the Windows operating system. It's not available for MAC or as an online product."

In 2022 this is unbelievable.

[SweetieJean]

Most likely this is because the expected use of a Mac version of TT Business isn't sufficient to justify the development and maintenance costs.  After all, TT is primarily a personal income tax program.

[eric2]

That was a valid excuse in 1998.  Macs are a large portion of the market now.  regardless, not having an online version is moronic.

[Carl]

not having an online version is moronic

Did you mean desktop version? Mac users most certainly can use the online version. At least, my sister who has a MAC used the online version successfully to file her 2021 return with no problems.

[tagteam]

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@eric2 wrote:

That was a valid excuse in 1998.  Macs are a large portion of the market now.  regardless, not having an online version is moronic.

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An online version of TurboTax Business might make sense, but it is clear that Intuit does not believe the market justifies dedicating resources to its development.

This has be rehashed a couple of zillion times already. Further, there are still myriad instances where utilizing Forms Mode is necessary to complete a return in TurboTax Business.

[eric2]

@Carl turbotax Business does not have an online version.

[eric2]

@tagteam It's all code.  Intuit can't figure out how to make their website work for forms?

[tagteam]

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@eric2 wrote:

@tagteam It's all code.  Intuit can't figure out how to make their website work for forms?

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I have absolutely no idea, but I suspect it is entirely possible that they could do so.

My sole point is that they apparently do not want to dedicate the resources necessary for its implementation.