You won't be able to prepare your personal income tax returns using TurboTax Business. TurboTax Business in used to prepare your 1120-S form.
To prepare and file your personal income tax returns, you'll also need one of the following products:
You'll start by preparing your S corporation (Form 1120S) using TurboTax Business. Form 1120S is due the15th day of the 3rd month after the end of the entity's tax year, generally March 15 for a calendar- year entity.
- See Form 7004 for an automatic extension period of six months which gives you a due date of September 15 for a calendar-year entity.
When you complete your Form 1120S, TurboTax will generate Schedule K-1's. Click How do I issue a K-1? The K-1 information gets entered on your personal income tax return, Form 1040.
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