There are a number of things you need to be aware of that are not self-evident in this transition. But first I need to know some things.
- Was this a sole proprietorship or single member LLC prior to S-Corp?
- Does the business have any assets that are being or have been depreciated?
- Does the business have any inventory?
-Does the business claim any vehicle use, even if less than 100% business use? (Let me know if less than 100% business use)
-Does the business have any outstanding debt?
-Does the business have any outstanding unpaid liabilities (such as unpaid bills already sent to clients/customers.) ?
" will the premier import anything from the previous small business version?"
Yes, it will.
"will business import any of the same?"
No. TurboTax Business will *NOT* import from other versions of TurboTax. For example, TurboTax Business 2018 will only import from TurboTax Business 2017. That's it.
