TurboTax for business is used to prepare tax returns for Estates, trusts, and corporations, including S corps, C corps, and multimember LLC’s. TurboTax for business is only available as a PC install, it is not available online or for Mac.
If you have one of these types of corporations, you must prepare the return first, and separately from your personal tax return. The corporate return will include preparation of K-1 statements that are issued to the partners or members of the corporation or partnership, and the K-1 statements must be included on the partners’ personal tax returns.
If you have a disregarded entity, which includes sole proprietorship, single-member LLC, or unincorporated partnership where the only other partner is your spouse, Then you only file a personal tax return that must include a schedule C for the business. To prepare a schedule C in TurboTax online, you must upgrade to TurboTax self-employed addition. You can upgrade within the program at any time.
