topic Filing for two separate businesses in Get your taxes done using TurboTax

Filing for two separate businesses

dgwtrust — Tue, 18 Mar 2025 18:14:48 GMT

We purchased and used TurboTax Business 2024 for our trust, and now need to file our personal taxes - we were told we have to use the business version because we have losses carried over from last year. QUESTION. Can we use the same TurboTax Business version for the two businesses, or do we have to purchase a separate Turbo Tax Business account for the second "business"?

Re: Filing for two separate businesses

RobertB4444 — Thu, 20 Mar 2025 21:44:47 GMT

The desktop version of the software allows you to file up to five federal returns. You just have to use the same log in information for all of them.

@dgwtrust

Re: Filing for two separate businesses

VolvoGirl — Thu, 20 Mar 2025 21:52:39 GMT

Who told you? They probably meant you have to buy the Home & Business version. But you don't. If you buy a personal Desktop program you can buy any version. All the personal desktop programs have the same forms. You can enter the K-1 you get from the Trust return into any desktop program. If you want to use the Online version for your personal tax return you will need Premium to enter a K-1 or to enter a carryover loss from last year.

What do you mean a "second business"? Do you need to do another separate Business return? The Business program you have can do multiple different businesses.

You can buy the personal Desktop Download program here or in stores or online like Amazon, Costco, Walmart, etc.
https://turbotax.intuit.com/personal-taxes/cd-download