How do I file taxes with TurboTax for a Single Member LLC taxed as an S-Corp?

[alfordwh]

I have completed the tax preparation for my single-member LLC in Turbo Tax Business and am ready to file, but I want to make sure I understand the process. Should I file for the S-Corp first (using form 1120-S), then generate a K-1 for the single member, then use Turbo Tax Home & Business to file personal, using info from the K-1? This is my first year filing as an S-Corp and I want to make sure I understand the process.

[MaryK4 · Accepted solution]

Yes you prepare the 1120S first.  You may be able to use TurboTax Premiere to file with your K-1- it depends on what else you have to report.  Start with Premiere and you will be prompted if you need to upgrade.