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T-Man
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Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

My single member LLC s-corp had only income from 2 rental properties. It seems TurboTax requires its Business version to do an LLC (S-Corp) but this version doesn't seem to handle income from rental properties, which apparently is only done with the Premier version.

Is it possible to do an LLC with rental properties with just one TurboTax package so I don't have to buy 2 softwares? 

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Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

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Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

 
T-Man
New Member

Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

Thank you!

Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

 

Which TurboTax version will do an LLC with rental properties so I don't have to buy 2 softwares? My single member LLC s-corp had only income from 2 rental properties.

If you need to do a S corp return you need the Business program (not to be confused with the personal Home & Business version).  I don't know how to enter rentals, maybe someone else will know.  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 Home & Business (or Personal & Small Business).  Home & Business is for personal returns that include a schedule C for self employment or sole proprietor. A single owner LLC would be reported on Schedule C unless the LLC elected to be treated as an S corp or C corp.

Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's 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

Then you will need a separate program to do your personal 1040 return.  You will get a K-1 or W2 from the 1120-S return to enter into your personal return.  If you buy the Desktop CD/download program any version will work.  All Desktop personal programs have all the same forms so you can use a lower version.  If you use the Online web version to do your personal return you need to use Premier or Home & Business to enter a K-1.  But Online will be closing soon on Oct 17.

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