Last year I filed taxes with TurboTax based only on my hospital job with my W2 form. I had no deductions. This year I will need to do the same, however now I also am a co-owner of an LLC business, which will have many deductions (and low income, as it is our first year). I am trying to figure out if I need to use two different programs and forms, or if I can do this all in one place and with one program.
I am also wondering about how to best submit my deductions for my LLC. My partner and I co-own the LLC 50/50. All of our business expenses are shared 50/50 as are al of our profits. Should we each report 100% of deductions and 100% of income? (Ie. should we file essentially the same thing? Or should we only be filing for our half of the deductions and our half of the income?)
