do i need to use two different turbo tax to do a single member LLC S corp and home taxes?
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Yes. You'll need to prepare Form 1120S using TurboTax Business for the LLC. That program will also prepare a Form K-1 for you, and you'll use that form to report your business income and deductions on your personal tax return.
Keep in mind that the deadline for filing your business tax return is 15th day of the 3rd month after the end of the corporation's tax year. (March 15 for most small corporations). Provide each shareholder with a copy of their Schedule K-1 (Form 1120S) by the 15th day of the 3rd month after the end of the corporation's tax year. Form 7004 is used to request an automatic 6-month extension of time to file Form 1120S.
https://turbotax.intuit.com/small-business-taxes/
Yes. You'll need to prepare Form 1120S using TurboTax Business for the LLC. That program will also prepare a Form K-1 for you, and you'll use that form to report your business income and deductions on your personal tax return.
Keep in mind that the deadline for filing your business tax return is 15th day of the 3rd month after the end of the corporation's tax year. (March 15 for most small corporations). Provide each shareholder with a copy of their Schedule K-1 (Form 1120S) by the 15th day of the 3rd month after the end of the corporation's tax year. Form 7004 is used to request an automatic 6-month extension of time to file Form 1120S.
https://turbotax.intuit.com/small-business-taxes/
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