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I am married filing jointly with my wife for 2020 taxes.
She is a W2 employee.
I have a marketing consulting business that is an LLC with an S-corp election.
I started using TurboTax business and I'm wondering if that's the correct version of the software for my needs.
Will I be able to file for my wife and I plus my business?
Thank you!
Tyler
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Ok ... you will need 2 versions ... the BUSINESS version for the S-Corp form 1120-S and then one of the Personal versions for the personal return form 1040 ... since you must use the downloaded version for both 2020 returns you can use the Deluxe ( Basic if you don't need a state return) for the personal return and save yourself a few bucks.
FYI ... both returns are now LATE so expect the IRS to send you a bill for the late filing penalty after you file.
Online tax preparation and e-filing for 2020 returns is now permanently closed. Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2020 return, you now have to complete it using desktop software, which you must download to a full PC or Mac (not to a mobile device).Then you need to print, sign and mail it.
If you already paid for your online software you can ask customer support for a download of the desktop software.
They are available from 5 a.m. to 5 p.m. Pacific time Monday-Friday.
https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
If you are getting a refund, there is no penalty for filing late. If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe. Only the IRS will calculate this—TurboTax will not calculate it.
When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s. Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.
Federal and state returns must be in separate envelopes and they are mailed to different addresses. Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.
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