I have two rental units (condos). I formed an LLC this year for liability to separate my personal assets in case of a potential legal action. Condo 1 is under LLC1. Later in the year in the year I then became 50/50 partners with another person and we acquired another rental unit. I formed a parnership (LLC2) and put this condo 2 in a separate LLC name (LLC2). Last year I used Turbo tax premier and it handled the rental property as part of my personal return. This year I have 2 rental units with 2 LLC names. 1). Do I need file 2 or 3 returns? I noticed at costco there was a Turbo tax business. 2) . Is that what Need ? I did not see the business turbo tax on line. 3) Which turbo tax do I need?
For the second LLC you have a partnership return that must be filed first and it will produce a K-1 for each partner to enter on the personal returns.
So you need 2 separate programs ... for the personal return which you get depends on if you want an online or downloaded version ....
To prepare a corporate, trust or partnership return you would need Turbotax Business. This is a separate program from Turbotax Home and Business. TT Business is a program only available for desktop windows use (there is no on-line or Mac version.)
http://turbotax.intuit.com/small-business-taxes/
https://turbotax.intuit.com/small-business-taxes/forms-business.jsp
https://ttlc.intuit.com/questions/1917225-is-turbotax-business-right-for-me
To prepare a personal return, depending on the complexity, you will need a version that prepares Forms 1040 such as Deluxe, Premier, Home and Business, etc. If you have a Schedule K-1 from either a Form 1120-S, Form 1065 or Form 1041 you will need either the Premier version or (if you also have an unincorporated business) the Self Employed version when using the online program.
All the 2017 downloaded programs will handle the personal return.
View this product guide
chart to see which product is best for you:
https://turbotax.intuit.com/personal-taxes/cd-download/