topic Re: Business Account in Get your taxes done using TurboTax

Business Account

gabigouvea — Thu, 25 Mar 2021 20:34:19 GMT

Hi! I want do my small company taxes but when I choose the option “small business” the website redirects me to a page where’s asking my personal info instead of the company info and I don’t wanna make my personal taxes, only my business account. Any advice?

Re: Business Account

RayW7 — Thu, 25 Mar 2021 20:55:57 GMT

If you are self employed then you can file for your business income and expense in Schedule C.

If you have a Partnerships, S Corp, C Corp, multi-member LLC, trusts and estates then you will need to file with TurboTax Business. (a separate product)

Either way TurboTax will guide you through the process.

Follow these instructions for Schedule C.

We'll automatically complete Schedule C when you set up your self-employment work in TurboTax or when you enter what the IRS considers self-employment income, which is usually reported on Form 1099-NEC or 1099-MISC.

Schedule C is supported in TurboTax Self-Employed (both online and in the mobile app) and in all personal 1040 versions of the TurboTax CD/Download software.

To set up your business:

Open or continue your return.
Search for schedule c and click the Jump to link in the search results.
Answer Yes to Did you have any self-employment income or expenses?
- If you've already entered self-employment work and need to enter more, select Add another line of work.
Follow the onscreen instructions.

If you need Schedule C to report a 1099-NEC or 1099-MISC, search for 1099-NEC or 1099-misc and select the Jump to link. Answer Yes to Did you get a 1099-NEC or 1099-MISC? We'll ask questions to find out if your 1099 income needs to go on Schedule C.

If your 2018 or earlier return requires Schedule C-EZ, we'll also generate a Schedule C for background calculation purposes only. It won't get filed with your return.

-follow this link for additional information-

Reporting Self-Employment Business Income and ... - TurboTax

Re: Business Account

VolvoGirl — Thu, 25 Mar 2021 21:03:01 GMT

If you need to file a separate Business return like for a 1065 Partnership or LLC or a 1120 including a Single Member LLC S corp or a 1041 Estate/Trust return you need Turbo Tax business.

You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes

Window System Requirements
https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-windows-software/00/26175