Yes, you will prepare and file two tax returns. Form 1065 (available in TurboTax Business) will report the activity of your LLC. Form 1040 (available in TurboTax Deluxe) will report your personal income and deductions, including the activity reported on Schedule K-1 from your LLC.
The LLC tax return will include a Schedule K-1 for each member. To enter this in TurboTax Deluxe, use the Search function (magnifying glass) in the TurboTax header and type in "k-1." Then click on the "jump to k-1" link to go directly to that topic. Follow the interview to enter your LLC information and the activity from your K-1s.
Pennsylvania law taxes the income you earn, receive and realize from PA sources. You will need to file a PA non-resident personal tax return. North Carolina taxes all income you received in the form of money, goods, property, and services that isn’t exempt from tax, including any income from sources outside North Carolina - this is your resident state on your tax return.
Tip: When preparing returns in multiple states, it's best to do your nonresident and/or part-year resident state returns first, and your resident state last.
If at any time you feel overwhelmed or need individual help, consider upgrading to TurboTax Live. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.
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