Business & farm

You don't need to file a separate business return from your personal return if you are a sole-proprietor.  You can use either the Turbo Tax self-employed if you prefer the online version or Turbo Tax Home and Business version if you prefer using the software.

Now you will need to amend your return so you can file your business return with your personal return. You may need to upgrade your product so you can file your business return. With the recent tax law changes, you won't be able to amend until 3/26 because the IRS is updating all their forms to accommodate the American Rescue Plan.

Once available, you can:

1. Log into Turbo Tax assuming you use Turbo Tax online
2. When you reach the landing page, scroll to the bottom where your tax returns and documents are.
3. Select 2020, and click on the option to amend and change return.
4. Answer the questions about why you are amending
5. Once you begin working in your return, your refund monitor will reset to 0. 
6. Go to federal>income and expenses>Self-Employment>show more
7. Self-employment income and expenses>start
8. Begin working on your business return.
9. I would recommend using the Turbo Tax Live Service for your first year just to make sure you enter everything in correctly. Once this first year is over, you will have gained the experience and confidence in doing this on your own in the ensuing year.
10. Reach out to us anytime after 3/26, when you can start amending your return.