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Level 2
June 1, 2019
Solved

Can I use self-employed to file for an S Corp where I'm the only employee?Also - why can you not actually contact Turbo Tax to ask which product to buy?

  • June 1, 2019
  • 1 reply
  • 12 views
I see old answers saying "no" but under the Self-employed details it says the Form 1120 S is included.
Best answer by VolvoGirl
Do you need to file the separate S corp return?  Then you need to use Turbo Tax Business.  TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return.   It  is a separate program from the Desktop Home & Business program or the Online Self Employed version.

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's (Win 7 or newer) version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.
https://turbotax.intuit.com/small-business-taxes

You will get a Schedule K-1 from the S corp return to enter into your personal return.  Yes you can enter the 1120 S corp K-1 into your personal return.  

1 reply

VolvoGirl
VolvoGirlAnswer
Level 15
June 1, 2019
Do you need to file the separate S corp return?  Then you need to use Turbo Tax Business.  TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return.   It  is a separate program from the Desktop Home & Business program or the Online Self Employed version.

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's (Win 7 or newer) version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.
https://turbotax.intuit.com/small-business-taxes

You will get a Schedule K-1 from the S corp return to enter into your personal return.  Yes you can enter the 1120 S corp K-1 into your personal return.  
calimoroAuthor
Level 2
June 1, 2019
So why does the TurboTax Self-Employed version come with the 1120S form? Can't I use that?