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Level 20

Will TurboTax ask me about our multi-member LLC?


@beanorama wrote:

Are you saying if I get the download version, I actually don't have to get the TT SE, because the TT Basic and Deluxe versions both have all the forms, including those forms?


No, if you are going to get TurboTax Business, which is a downloadable and installed product, and you need to do Schedules C, then also get TurboTax Home & Business. 

 

TurboTax Home & Business is capable of preparing Schedules C during the interview process (Step-by-Step) and has plenty of guidance for sole proprietorship entries.

Level 20

Will TurboTax ask me about our multi-member LLC?

If you are comfortable completing tax returns then you can cheap out with the lower versions since ALL the DOWNLOADED programs can complete all the same tax forms ... they only reason to upgrade to Home & Business is if you need more guidance ... you can start in the Basic or Deluxe and upgrade if you feel the need in program.  

Level 20

Will TurboTax ask me about our multi-member LLC?

So to be clear.  You may need to buy 2 programs.  If you want to prepare the 1065 return you need Turbo Tax Business which is only available as a desktop program.  It can also prepare 1099Misc you need to issue.

 

Then you will need a personal return program.  You can buy any Desktop version or for next year you can also use the Online version.  For Online you would need to use the Self Employed version.

 

If you use the Home & Business version or the online Self Employed version, those also let you prepare 1099Misc and W2s.