I have an S-Corp that earns very little money—one client, approx. $20,000 income in 4 payments. Can I do my taxes via Turbo Tax?

[lynnbraz]

Does Turbo Tax for S-Corps make this a straightforward procedure?

[RobertG]

You can do an S-Corp return using TurboTax Business.

It is very straightforward, particularly if you have a prior year return as a template.

It will generate the K-1 you will need for your personal return.

[Opus 17 · Accepted solution]

To prepare a tax return for an unincorporated partnership, estate, trust, S- or C-corp or multi-member LLC, you need Turbotax Business.  This is separate from the various personal forms of Turbotax.  The business program is only available as a CD or download to install on a PC; no Mac or online version.  The S-corp return will generate a K-1 statement that goes on your personal tax return along with all your other income and deductions.  

Also, be aware, the deadline for filing a S-corp tax return is March 15, not April 15, and the deadline was NOT extended this year due to the pandemic.  The late fee is $195 per month per shareholder.