turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How can I prepare a K-1

For a Subchapter S
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

How can I prepare a K-1

If you need to prepare a Form 1120-S for an S corporation, you need TurboTax Business (link below) which is not available online or for a Mac; it must be installed and run in a Windows environment. Further, TurboTax Business can only be used to prepare income tax returns for entities; it cannot be used to prepare an individual income tax return (e.g., Form 1040).

 

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

 

Finally, if you are not extremely familiar with the rules and regulations that relate to S corporations, you should definitely seek professional tax guidance and assistance with return preparation rather than attempting to do it yourself.

How can I prepare a K-1

If you elected S-corp status for your LLC (to be taxed as an S-corp), then in either case, you'll need TurboTax Business to file your 1120-S return. And the corp return was due 3/15/19 unless you put it on extension AND if you are not familiar with filing an 1120-S then I highly recommend you seek local professional assistance ... the LIVE help in the Self Employed program will not help you with this return or other program.

You can access the TurboTax Business software here : https://turbotax.intuit.com/small-business-taxes/
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies