The type of tax return that you prepare for your LLC depends on the type of LLC you and your wife formed and what state you live in (for a Single Member LLC). If you formed a Single Member LLC (married couples can form a Single Member LLC) which is treated as a "disregarded entity" it is reported on a Schedule C.
If you chose your LLC to be taxed as a partnership, you have to prepare a partnership tax return (Form 1065) and you would create Schedule K-1s for each member’s share of the income and expenses. You would use the TurboTax business product to prepare Form 1065, not TurboTax Home and Business.
You will have to amend your 2022 tax return either way, If you file a Form 1065 and issue K-1s, they will need to be entered on your tax return. If you have a Single Member LLC, you will need to add a Schedule C to your tax return.
For more information, please review the TurboTax article Limited Liability Company Taxes.
If you have additional questions, please contact us again.
EDIT 4/4/23|9:54 am PST
@natestanke123
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