Where do I find the TurboTax State Business software package both estate taxes and general partnership (LLC) taxes?
The partnership is a small ranch in New Mexico that is leased out for grazing cattle and selling elk permits to outfitters. The estate has a loan to a business that doesn’t end for 7 years.
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You purchase the state return from within the TurboTax Business program.
TurboTax Business State products are sold separately by state, tax year, and business entity type.
Each TurboTax Business State product lets you prepare multiple business returns of the same entity type in the same state for the same tax year.
For example, if you need to file multiple California partnership returns for this tax year, purchase the current version of TurboTax Business California Partnership program and use it to prepare all your California partnership returns for this year.
However, if you need to file different entities in the same state (for example, California partnership and estate returns) or the same entity in different states (like corporations returns in both California and Arizona), you'll need to purchase a separate program for each state/entity type.
I received another response that states : Yes, you can do both. You will need to purchase a state return (NM) if necessary through the program.
This appears to be counter to your response.
This may be a better way to ask my question: Do I need to purchase a TurboTax Business package to complete a return for an estate return AND a separate TurboTax Business package to complete a partnership tax return?
Thanks
@gssulte7 wrote:This may be a better way to ask my question: Do I need to purchase a TurboTax Business package to complete a return for an estate return AND a separate TurboTax Business package to complete a partnership tax return?
NO! You can do a federal income tax return for an estate (Form 1041) AND a federal income tax return for a partnership (Form 1065) with ONE TurboTax Business package.
As mentioned, the state returns are, indeed, separate purchases.
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