TurboTax Business - Used to prepare and file a tax return for a non-breathing non-living separately taxable entity. For example:
C-Corp - prepare and file the 1120 Corporate Return.
S-Corp - prepare and file the 1120-S Corporate Return.
Partnership - Prepare and file the 1065 Partnership/Multi-member LLC Return.
Estate/Trusts - Prepare and file the 1041 return for an estate or trust.
TurboTax business does not include the 1040 tax return and therefore can not be used to complete or file a tax return for any living, breathing taxable human. TurboTax Business is only available on CD and is only for the Windows operating system. It is not available as an online product and is not available for MACs.
TurboTax Self-Employed - Just like the other versions below it, the Self-employed version can be used to file a 1040 personal tax return. But it also includes the SCH C for a sole proprietorship or single member LLC which are considered disregarded entities by the IRS. It also includes the SCH E for rental income as well as SCH F for farm income. This is only available as an on line product
Home & Business - The is the CD version that must be installed on your computer. The only difference between this version and the self-employed version is the spelling. Self-Employed is what the online version is called. Home & Business is what the CD/Desktop version is called.
