topic Married with Partnership in Business & farm

Married with Partnership

DanDanllc — Sat, 06 Mar 2021 17:06:43 GMT

My spouse and I have an LLC that we have registered as a partnership. TurboTax Home Business is forcing us to file two schedule Cs but I want to file using a 1065 for partnership. How do I do that?

Re: Married with Partnership

ColeenD3 — Sat, 06 Mar 2021 18:23:34 GMT

You can't file a partnership in Home and Business. This is for personal returns such as Schedule C.

You need to file the 1065 business return either using Turbo Tax Business. The 1065 will prepare the K-1s that you enter into your personal return. You can't file your personal return until you file the 1065 and get the K-1. You can enter the K-1 you receive into the Home & Business version.

Re: Married with Partnership

Anonymous_ — Sat, 06 Mar 2021 18:24:14 GMT

If you want to use a TurboTax product, you will have to use TurboTax Business to prepare a 1065.

TurboTax Business must be installed and run in a Windows environment; there is no online or Mac version. Further, TurboTax Business is only capable of preparing income tax returns for entities; it cannot be used to prepare individual income tax returns.

See https://turbotax.intuit.com/small-business-taxes/