I have residential rental properties and a multi-member LLC, which turbotax do i need to use in order to do with my Federal and State income taxes?

[Dragon64]

Can TurboTax Business alone do all what I needed? thank you!

[WillK · Accepted solution]

You will need two different version, one for your multimember LLC, and then for your persona return. 

For your multi-member LLC, you will need Turbo Tax Business: https://turbotax.intuit.com/small-business-taxes/. The program will help your report the income and expenses on Form 1065, and will also prepare the Schedule K-1's that will need to be given to each partner to report on their personal return.

For your personal return, you will need Turbo Tax premier which will help you report all your income, rental information and your other tax data. You can get this here: https://turbotax.intuit.com/personal-taxes/online/

[Dragon64]

Thank you! What's the difference between TurboTax Premier and TurboTax Home & Business? Can I use either one?

[WillK]

You can use either one, but the Home and Business is geared to those who are self employed.