Yes, you need to have both business and personal taxes filed.
If your CPA filed business taxes separately from personal income taxes, that would indicate to me that your business is either a partnership, S-Corp or C-Corp. Therefore the CPA would have issued you a K-1 showing the business income/expenses. That K-1 information needs to be included in your personal 1040 tax return.
Did the CPA file a separate Business return like a 1065 or 1120? Did he give you a K-1 or a schedule C for your personal return?
To enter a K-1 go to
Federal Taxes Tab or Personal (Home & Business version)
Wages and Income
Then scroll way down to Business items
Schedules K-1, Q - Click the Start or Update button
Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
Enter each k-1 separately.
To enter a Schedule C.......
If you are using the Online version you will have to go though the business section and enter all the totals on the interview screens. And hopefully come out with the same Net Profit or Loss as the accountant's Schedule C. You don't need to enter the schedule SE. Turbo Tax will automatically fill out SE based on your schedule C entries and any W2s you entered.
If you want to switch to the Desktop CD/Download program you can enter your figures directly into Schedule C on the actual schedule C. We can tell you how to switch.
@Carl wrote:
.....that would indicate to me that your business is either a partnership, S-Corp or C-Corp. Therefore the CPA would have issued you a K-1 showing the business income/expenses.
C corporations do not issue K-1s.