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thisisme271
Returning Member

Multiple LLC'S

Hi

I have a partner LLC that is holding LLC. Under it are 5 LLC's owned by the partner LLC. Can turbo tax help in this situation? 

The parent partner LLC files the returns and issues K1 to me and my spouse. 

The 5 LLC's own rental properties and are disregarded and pass their income/expenses to the parent LLC.

Is turbotax helpful in this?

If yes- What version- desktop or online?

Thanks for input.

 

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5 Replies

Multiple LLC'S

You need Turbotax Business full windows PC - No MACs. no online  64 bit operating system windows 10 or 11.

see this link for system requirements

https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements 

a printer is not required unless you are forced to mail in the return.

 

to purchase 

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

 

other sites may offer the software at a lower price but be extremely wary of unknown sites since you may actually be purchasing malware. 

 

 

Multiple LLC'S

You need both the Business program and a personal program.  The Home & Business program is only for personal 1040 returns that need help for Schedule C self employment sole proprietor freelance etc.

 

For you personal return you can use either the Online Premium version or any of the Desktop CD/Download programs.  

 

 

thisisme271
Returning Member

Multiple LLC'S

So will this work- it’s cheaper at Sam’s club. It it the same product you buy on their website?

https://www.samsclub.com/p/turbotax-business-federal-e-file-2023/P03022554?xid=plp_product_11

Multiple LLC'S

@thisisme271 Yes, it is the same TurboTax product as is offered on the TurboTax website.

Sam's Club is an authorized TurboTax retailer.

See this TurboTax support FAQ for authorized retailers - https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-product-orders/obtain-authentic-t...

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