@noma406839 wrote:
We have a new LLC and it is just a husband and wife LLC, can we use the Home & Business turbotax software
You can use Home & Business only if you hold your interests in the LLC as community property in a community property state.
In that event, you can treat the LLC as a qualified entity and disregarded for federal income tax purposes and each report on a separate schedule, such as Schedule C.
See https://www.irs.gov/pub/irs-drop/rp-02-69.pdf
Qualified Entity. A business entity is a qualified entity if:
(1) The business entity is wholly owned by a husband and wife as
community property under the laws of a state, a foreign country, or a possession of the
United States;
(2) No person other than one or both spouses would be considered an
owner for federal tax purposes; and
(3) The business entity is not treated as a corporation under
§ 301.7701-2.
See also https://www.irs.gov/businesses/small-businesses-self-employed/election-for-married-couples-unincorpo...
