What Turbo tax software do I need for a partnership return with rental property?

[MichaelMc · Accepted solution]

The only TurboTax software that will prepare and e-file a Form 1065 partnership return is TurboTax Business, which is available as a Windows-only disc/download product.

This software includes Form 8825, Rental Real Estate Income and Expenses of a Partnership or an S Corporation.

[WilHen02]

Is this guidance out of date?

TT H&B now includes a form listed as 1065.  Is this version fileable electronically in 2021? Is it fileable and acceptable to the IRS in electronic or paper form?

[DoninGA]

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@WilHen02 wrote:

Is this guidance out of date?

TT H&B now includes a form listed as 1065.  Is this version fileable electronically in 2021? Is it fileable and acceptable to the IRS in electronic or paper form?

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The only form or schedule in the TurboTax desktop editions with a relation to a Form 1065 is the Schedule K-1.

The Schedule K-1 (Form 1065) is created in the TurboTax Business Edition and reported on a personal tax return, Form 1040.

[WilHen02]

I use  TT "what if scenarios" by making copies of the current year tax files to estimate the tax implications of changes such as increasing rents or taking a new contract.

When I open a new file for a what if scenario,  am I using one of the five downloads or not?

Never have kept  five open files at once, but just curious if files count or only downloads to a different computer?

[DoninGA]

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@WilHen02 wrote:

I use  TT "what if scenarios" by making copies of the current year tax files to estimate the tax implications of changes such as increasing rents or taking a new contract.

When I open a new file for a what if scenario,  am I using one of the five downloads or not?

Never have kept  five open files at once, but just curious if files count or only downloads to a different computer?

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You are not downloading anything when you create tax returns using the TurboTax desktop editions.  There is no limit to the number of tax returns you create with the desktop editions.

Downloads only applies to the actually downloading of the installation file from your TurboTax download account.

You can install the TurboTax software on up to 5 computers that you personally own.