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bigjet63
New Member

Why am I being told to use premier when my business is an LLC

I need TurboTax business  because I am an LLC
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Why am I being told to use premier when my business is an LLC

An LLC being taxed as ????

 

You can include your LLC in your personal tax return with TurboTax Self-Employed if your LLC is a disregarded entity. That would be either a single-member LLC, or a two-member LLC in a community property state with you and your spouse as the only members. In either case, the LLC must not have elected to be treated as a partnership or corporation for tax purposes.


You need different software if you have any other type of LLC: a multi-member LLC (other than just two spouses in a community property state), or an LLC that has elected to be treated as a partnership or corporation for tax purposes. In these cases the LLC has to file its own tax return separate from your personal tax return. To file the tax return for the LLC you need TurboTax Business (which is a different product from Home & Business). TurboTax Business is not available as an online service. It's available only as software that you install on your Windows computer from a CD or a download. You cannot use TurboTax Business to file your personal tax return. You still need one of the personal editions of TurboTax for that. You can learn more about TurboTax Business, and purchase it, at the following link.


TurboTax Business

 

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2 Replies

Why am I being told to use premier when my business is an LLC

An LLC being taxed as ????

 

You can include your LLC in your personal tax return with TurboTax Self-Employed if your LLC is a disregarded entity. That would be either a single-member LLC, or a two-member LLC in a community property state with you and your spouse as the only members. In either case, the LLC must not have elected to be treated as a partnership or corporation for tax purposes.


You need different software if you have any other type of LLC: a multi-member LLC (other than just two spouses in a community property state), or an LLC that has elected to be treated as a partnership or corporation for tax purposes. In these cases the LLC has to file its own tax return separate from your personal tax return. To file the tax return for the LLC you need TurboTax Business (which is a different product from Home & Business). TurboTax Business is not available as an online service. It's available only as software that you install on your Windows computer from a CD or a download. You cannot use TurboTax Business to file your personal tax return. You still need one of the personal editions of TurboTax for that. You can learn more about TurboTax Business, and purchase it, at the following link.


TurboTax Business

 

Carl
Level 15

Why am I being told to use premier when my business is an LLC

My screen shows you are using the online version of Self-Employed; which is exactly what you "MUST" use if you have a single member LLC and desire to use the online version of the program.

With the desktop version, you can use Premier or Home & Business.

 

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