Yes . Since you are in a partnership with your mother and you are filing as a partnership, you should be filing the form 1065. After you complete the return, you will issue K1 statements to the partners with their share of the profits or loss. TurboTax does not have an online product for this but does have a desktop product, TurboTax Business. Here is a link to purchase TurboTax Business on Amazon.
The due date for the 2020 1065 is 3/15/21 so you still have some time to get this prepared. You will need to file an amended personal tax return including your share of the profit or loss.
After the IRS or states accept a customer’s return, the customer may need to amend it using the IRS Form 1040-X or a form or process specific to their state. (Each has its own requirements.) The federal Form 1040-X, Amended U.S. Individual Income Tax Return, and most state forms for amending tax returns have not yet been released. When they become available, we’ll update TurboTax Desktop, TurboTax Online, and TurboTax Mobile App. For now, customers will get a message that the amend experience isn’t available and they can check back later. We do not anticipate amendment forms being ready till Mid to Late March.
