1350695
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

rkrbaker
New Member

What version of TurboTax should I use? I need to complete the taxes of a complex trust that owns a sole proprietorship LLC. Please advise.

TurboTax Business is recommended for trusts but does not cover the schedule C questions for the sole propriatorship LLC.  TurboTax Home & Business and TurboTax Premier is recommended for sole proprietorships LLCs but does not ask questions for the complex trust.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

What version of TurboTax should I use? I need to complete the taxes of a complex trust that owns a sole proprietorship LLC. Please advise.


@rkrbaker wrote:
TurboTax Business is recommended for trusts but does not cover the schedule C questions for the sole propriatorship LLC.  TurboTax Home & Business and TurboTax Premier is recommended for sole proprietorships LLCs but does not ask questions for the complex trust.

Schedule C is supported in TurboTax Business (in the trusts/estates - 1041 - module). 

 

However, you need to prepare Schedule C in Forms Mode in the program.

 

You need a personal income tax preparation program to prepare your individual income tax return since TurboTax Business only supports preparing income tax returns for entities.

View solution in original post

1 Reply

What version of TurboTax should I use? I need to complete the taxes of a complex trust that owns a sole proprietorship LLC. Please advise.


@rkrbaker wrote:
TurboTax Business is recommended for trusts but does not cover the schedule C questions for the sole propriatorship LLC.  TurboTax Home & Business and TurboTax Premier is recommended for sole proprietorships LLCs but does not ask questions for the complex trust.

Schedule C is supported in TurboTax Business (in the trusts/estates - 1041 - module). 

 

However, you need to prepare Schedule C in Forms Mode in the program.

 

You need a personal income tax preparation program to prepare your individual income tax return since TurboTax Business only supports preparing income tax returns for entities.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question