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.

Auxmed
New Member

Which turbotax software is right for me?

I have two residential rental properties that are now LLCs owned by my wife and I as single owner members.  I understand these can be classified as a "disregarded entity" for income tax purposes and we can enter info on either schedule C or E.  I believe this also requires entering form 568 for each LLC.  Is Turbotax Home and Business the proper desktop software?

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 Reply
pk
Level 15
Level 15

Which turbotax software is right for me?

@Auxmed ,  if you are filing a schedule-C   ( RealEstate professional / sole Proprietor )  or Schedule-E  (for the  Rental properties) covering the llc earnings and expenses , as  dis-regarded entities, then TurboTax H& B is  prefect for such . 

If on the other hand  you choose to file  at the entity level , then you need to use TurboTax Business/ Fiduciary, then issue the K-1  to the owners  and that then goes to your 1040.

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