Self employed
You will need the TurboTax Home and Business product for your personal tax return preparation and you may need the TurboTax Business product to prepare the Multi Member LLC return. The single member LLC should be reported on a small business schedule C, using the Home and Business software. You can download the Home and Business product and the Business product by using these links.
Multi-member LLC income would normally be reported on a partnership Form 1065 return. However, you may qualify to report the income on separate schedule C's, one for each spouse, if you are the only owners, file a joint return, both spouses materially participate in the business and elect to forgo the Form 1065, they co-own the business and the business isn't held in the name of a state law entity, such as partnership or LLC. Since you mention the multi-member company is an LLC, that would likely preclude you from forgoing the partnership return filing, but there are exceptions for companies registered in community property states so you may want to research that further. You can learn more from this IRS article as follows:
[Edited 10:00 AM EST on 1/15/25]
