MinhT1
Expert Alumni

Business & farm

If your business is a single-member LLC taxed as a S-Corp, you cannot file your business in your personal tax return.

 

A S-Corp has to file form 1120S even if it only one member. You cannot prepare form 1120S with TurboTax self-Employed (or TurboTax Home & Business). Yu need to use TurboTax Business. In the 1120S package, you will have a Schedule K-1 Form 1120S which you will enter on your personal tax return to report your business.

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