If you and your spouse are the only members of the LLC, and you live in a community property state, you can use TurboTax Self-Employed. You would file your tax return as if the LLC didn't exist. (You treat it as a "disregarded entity.") You and your spouse would each file a Schedule C for your respective shares of the business income and expenses.
If you do not live in a community property state, the multi-member LLC has to be treated as a partnership. The LLC has to file a partnership tax return, Form 1065. TurboTax Self-Employed cannot do that. You need TurboTax Business (not Home & Business) to file the partnership return. But TurboTax Business cannot do your personal Form 1040 return. You still need one of the personal editions for that.
If you do live in a community property state, you can choose to treat the LLC as a partnership instead of as a disregarded entity, if you wish.
The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin
So if you did it wrong you must file all the missing 1065 forms AND amend the personal returns to add the K-1 forms the 1065 will issue and remove the incorrect Sch C forms.
