Yes, your personal and business tax returns will have to be filed separately.
An LLC listed as an S-Corp is considered a separate legal entity and will require its own tax return to be filed -- a 1120S form. On the 1120S form, you will enter the income and expenses of the business for 2017. Each shareholder's portion of the income, credits and deductions of the SCorp will be included on a K-1 form, which is used to pass through the income, credits and deductions to their personal return.
All of your personal income, deductions and credits, along with the K-1 from your SCorp filing will be included on your personal tax return.
TurboTax Business can help you prepare your 1120S form. TurboTax Business (CD or download)
