Business & farm

An S-Corp is a 100% separate entity from your personal return.  You do need to fill a corporate return for it.  The TurboTax product which can file for S-Corp is TurboTax Business. 

As part of the business return there will be a K-1 generated which is used on your personal return.

How to add K-1 to your personal return if you haven't filed yet:

1. Open (continue) your return in TurboTax, if it's not already open.
2. In your TurboTax program, search for K-1 or K1 (lower-case works too) and then click the "Jump to" link in the search results.
3. This will take you to the Schedules K-1 or Q screen. Answer Yes and follow the prompts. (see Thumbnail #1) 
   • Note: You may be prompted to upgrade to Premier, depending on which version of TurboTax you're in.