I work for a company where I get a W2 and own a small startup inspection business which is an LLC. Can I do both in one Turbotax or other product?
You can use TurboTax Self-Employed (if you want to use an online version) or any desktop version, provided you are the only member of your LLC and have not made an election to be treated as a corporation for federal income tax purposes.
@wolfmeat Yes, you can do your personal and LLC with one product (as per my first post). If you have a single-member LLC without an election to be treated as a corporation (which you clearly do not), then the LLC is disregarded and you file a Schedule C the same as a sole proprietor.
Perfect, would that be Turbotax Premiere.
Sold rental property
Worked for a company separate from my LLC
Did $7,000 in business with the LLC I own
Thanks for the help
If I used self employed version, I can also enter all my "non-self employed" info from my day job.
Sorry to bother you I know how much work this will be and want to make sure I'm getting the right product.
I was told I need two different products and would rather take it to a tax pro if that is the case.