I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

gregid8181 · ‎May 31, 2019

SweetieJean · ‎May 31, 2019

Is the Travel Agency an S Corp? Are you the sole owner?

gregid8181 · ‎June 7, 2019

Yes, S Corp. Co-owned with my wife and we are the sole employees.

SweetieJean · ‎June 7, 2019

You will need TT Business (not Home and Business) for the S Corp, but it is only available as a desktop version, and then only for Windows.

You will also need one of the personal versions of TT to do the 1040. The SuperUsers prefer desktop.

https://turbotax.intuit.com/personal-taxes/cd-download/

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

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gregid8181 · ‎June 7, 2019

Thank you!

Critter · ‎June 7, 2019

You used the term "employees" ... I hope that means that you have been filing the appropriate employment tax forms & actually issuing W-2 for yourselves.

SweetieJean · ‎June 7, 2019

<a rel="nofollow" target="_blank" href="https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations">https://www.irs.gov/bu...>

gregid8181 · ‎June 7, 2019

Yes, we do.

SweetieJean · ‎June 7, 2019

Terrific!

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Get your taxes done using TurboTax