topic Trying to transfer 2018 business tax return into 2019 home & business turbotax in Business & farm

Trying to transfer 2018 business tax return into 2019 home & business turbotax

jag68 — Wed, 29 Jan 2020 20:27:23 GMT

Turbotax Home & Business will not let me start a new business tax return using last year's business tax return. The only options on the 'what would you like to do' screen is to create a new individual tax return or prepare w-2s and 1099s. I use another Quickbooks to create my w-2s and 1099s. If I select create a new individual tax return, I can not transfer over last year's business tax return because it's not an individual tax return. If I select prepare w-2s and 1099s, it wants me to do something that I don't need to do in this software. How do I resolve this issue?

Re: Trying to transfer 2018 business tax return into 2019 home & business turbotax

DawnC — Wed, 29 Jan 2020 20:49:48 GMT

You need to use TurboTax Business to file a business return (Partnerships, S Corp, C Corp, multi-member LLC, trusts and estates)

Home & Business will only prepare personal tax returns.

Re: Trying to transfer 2018 business tax return into 2019 home & business turbotax

bhooper1 — Sat, 07 Mar 2020 18:12:50 GMT

I am using turbo tax business and it will not pick up my 2018 files and convert to 2019. Is trying to make me start a brand new return. Just started doing this have done 2 of my companies without any proplems

Re: Trying to transfer 2018 business tax return into 2019 home & business turbotax

CassLO — Fri, 13 Mar 2020 16:32:32 GMT

Start the return again and this time do a search for the .tax2018 file it could not find the first time.

2018 Downloaded to 2019 Downloaded

Do you have the 2018 tax file on your computer? It ends in .tax2018. You need that to transfer into 2019. First thing you do is start a new return and it should find all your 2018 files and ask if you want to transfer them.

Directions for Mac:

How do I transfer last year's return into the 2019 TurboTax for Mac software?

Directions for Windows:

Transfer last year's return to 2019 TurboTax for Windows

"Critter Level 15"

Re: Trying to transfer 2018 Premier tax return into 2019 Home & Business

ksinnett — Sat, 28 Mar 2020 14:08:10 GMT

Last year (2018) I filed with TurboTax Premier....maybe not the right package, but I have a home rental business and separate LLC (lake cruise business)...this year (2019) I purchased Home & Business....when I try to upload the 2018 information (depreciation/etc) it won't populate the 2019 tax forms. Help!!! Kevin

Re: Trying to transfer 2018 Premier tax return into 2019 Home & Business

ThomasM125 — Mon, 30 Mar 2020 03:29:45 GMT

The home and business software will give you the option of completing a business schedule C in addition to the schedule E you used last year to enter your rental income and expenses. You may be trying to find the depreciation and assets for the rental in the business income and expenses section of TurboTax. You need to go into the business section, but then look for "Rental Properties and Royalties."