If your business is a sole proprietorship or a single member LLC then TurboTax Online will cover all your tax filing needs in one return. 

If your business is a S Corp, C Corp, Partnership, or Multi-Member LLC then you will need TurboTax Business. You can purchase here: Small Business Taxes

My business (started in Sept. 2106) is a single person LLC and I was granted approval for the S-Corp tax benefit.  Am I now in fact a S-corp (Small business), needing to file using the Small Business Taxes option?
Thank you for your reply.

So in that case, you'll need 2 products this year, one for your personal Form 1040 and one for your S-Corp Form 1120-S.

Form 1120S (U.S. Income Tax Return for an S Corporation) is available in TurboTax Business and can be found here: <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/">https://turbotax.intuit.com/small-business-taxes/...>
When you first start a return in TurboTax Business, you'll be asked to select the type of return you want to prepare. Simply select Business return and then select S Corporation to add Form 1120S to the return.

However, your personal tax return cannot be prepared in TurboTax Business, so you'll need our individual program for your Form 1040 too, which can be started here with an online version: <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/online/">https://turbotax.intuit.com/personal-taxes/onlin...> Or here, with our desktop products: <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/cd-download/">https://turbotax.intuit.com/personal-taxes/...>

Sorry, I should have provided more detail to thoroughly explain our tax situations which are as follows:

1. I am using my wife's computer but my name is [removed].
2. I was employed for the first seven months of 2016 before being layed off.
3. I started a business (one person LLC) in Sept. 2016 and also applied for permission to be taxed as a S-Corp for the tax advantage; does this mean I am now actually a S-Corp period, and should no longer refer to my company as a LLC?  If this is the case I see the reason for the Small Business recommendation.
4. My wife has a sole proprietor type business.
5. I received Social Security benefits the last four months of 2016
6. I have a form 1095-B for no medical coverage the last four months of 2016.
7. Our single largest concern is a 1099-A from a mortgage company received as a result of a 'Deed-in-Lieu' property turnover due to our inability to pay; as best I can figure the 'gift' amount claimed is in excess of $50k!  Can you tell me if this is also added to the 'personal taxes' filing and how can we know how much this will cost us; how is this determined?

8. So, all of our items beyond the S-Corp, can be handled within a single the 'Personal Tax; program joint filing?  

Sorry to be a pest; with your response to this message, I should be ready to begin our tax preparations.

Thank you,
[removed]

7. Our single largest concern is a 1099-A from a mortgage company received as a result of a 'Deed-in-Lieu' property turnover due to our inability to pay; as best I can figure the 'gift' amount claimed is in excess of $50k!  Can you tell me if this is also added to the 'personal taxes' filing and how can we know how much this will cost us; how is this determined?

Hi! I removed your name for security since this is a public forum, but let me address your concerns one by one if I may.

#3 You will receive notification if the election is accepted and when it will take effect. The corporation will also be notified if its election is not accepted. The corporation should generally receive a determination on its election within
60 days after it has filed Form 2553. If box Q1 in Part II is checked, the corporation will receive a ruling letter from the
IRS that either approves or denies the selected tax year. When box Q1 is checked, it will generally take an additional
90 days for the Form 2553 to be accepted. See page 5 here for more info on checking your status: <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/i2553.pdf">https://www.irs.gov/pub/irs-pdf/i2553.pdf</a>

However, if the status was not effective for 2016, then you will only need one version of TurboTax this year, becasue your LLC will be reported on your personal tax return Form 1040 via Schedule C.  If this is the case, then you will need to use either TurboTax Online Self-employed or TurboTax Desktop Home & Business, becasue of your LLC and your spouse's sole-proprietorship.  (Okay so that answers #4 too.)

#2 & #5- your W-2 and SSI is entered on your personal Form 1040 and can be handled by either program mentioned above.

#6- You do not need to enter Form 1095-B on your tax return. However, you will answer questions still about when you had health insurance for the year when completing your personal return, Form 1040. For more info see: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/4829605">https://ttlc.intuit.com/replies/4829605</a>

#7- No. If your 1099-A is for personal property, like your personal residence or automobile, you don't need to report it. However, hang onto this form and keep it with your tax records. See: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3299944">https://ttlc.intuit.com/replies/3299944</a>

However, if you receive a 1099-C then it might need to be reported. See <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3302245">https://ttlc.intuit.com/replies/3302245</a> But only if it does not qualify under the  Mortgage Forgiveness Debt Relief Act of 2007 discussed here <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/5404105">https://ttlc.intuit.com/replies/5404105</a>