I bought TurboTax Home & Business and it has no option to file 1120. Can't even find the form. It only shows 1140 and individual tax return. How come it says on the box:
Individual contractors
Freelancers & Consultants
Small Business <=========
Sole Proprietors
Plus everything in Premier
and I cannot file it for my small business (incorporated).
Last year I bought HR Block business for 2020 and I can file 1120 for my small business.
Am I not doing it right or did I missed something?
To complete and file a Form 1120, you will need to purchase the TurboTax Business Edition. The Business Edition can only be installed on a Windows based personal computer, not on Mac or online. The Business Edition cannot be used for a personal tax return, Form 1040.
Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/
Thanks DoninGA for answering. Please tell Intuit to change the name of this. it's not really HOME AND BUSINESS, it's the same as personal tax return if it only does 1040. It's false labeling. Now I have to deal with the vendor to see if I can return this opened and activated software to buy another one. Thank you.
@chow324 The Business in the Home & Business edition is referring to a sole proprietor/independent contractor who has to enter their business income and expenses on a Schedule C which is included with and part of a personal tax return Form 1040.
This would also apply to a business which is a single member LLC who has not incorporated and would be considered a disregarded entity for tax purposes.
Can someone from Intuit answer this soon, 4/15 is around the corner? Does it have 1120? if not, i have to return it and get the other software. Thank you
To complete and file a Form 1120, you will need to purchase the TurboTax Business Edition. The Business Edition can only be installed on a Windows based personal computer, not on Mac or online. The Business Edition cannot be used for a personal tax return, Form 1040.
Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/
Thanks DoninGA for answering. Please tell Intuit to change the name of this. it's not really HOME AND BUSINESS, it's the same as personal tax return if it only does 1040. It's false labeling. Now I have to deal with the vendor to see if I can return this opened and activated software to buy another one. Thank you.
@chow324 The Business in the Home & Business edition is referring to a sole proprietor/independent contractor who has to enter their business income and expenses on a Schedule C which is included with and part of a personal tax return Form 1040.
This would also apply to a business which is a single member LLC who has not incorporated and would be considered a disregarded entity for tax purposes.