Business & farm

1. Yes, you can e-file Form 1120S using TurboTax Busines program.

2. You cannot pay quarterly estimated taxes for an S-corp in TurboTax Business. An S Corp is a pass-through entity. The owner(s)/shareholder(s) are liable to pay income tax on pass-through income reported to shareholders on Schedule K-1. Estimated taxes for some other forms of entities are supported. Generally, an S corporation must make installment payments of estimated tax for the following taxes if the total of these taxes is $500 or more: Tax on built-in gains, Excess net passive-income tax, investment credit recapture tax.

Here is a list of forms supported by TurboTax Business.

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