Long time user of TT Personal. I understand I need to use TT Business for a 2-person LLC and that I likely have to also purchase TT to file a 1040.
Do these two programs talk to one another such that I can easily transfer over the relevant data? Like importing the K-1?
You'll need to sign in or create an account to connect with an expert.
Yes, you will need TurboTax Business to prepare a Form 1065 for the 2 member LLC (unless you have elected S-Corp status, in which case you use the program to prepare Form 1120-S). You will also need the personal program. Unfortunately, you will have to enter the information from the K-1s into TurboTax Home & Business manually.
For information on the programs, and to order see the following:
TurboTax Desktop Products ComparisonYes, you will need TurboTax Business to prepare a Form 1065 for the 2 member LLC (unless you have elected S-Corp status, in which case you use the program to prepare Form 1120-S). You will also need the personal program. Unfortunately, you will have to enter the information from the K-1s into TurboTax Home & Business manually.
For information on the programs, and to order see the following:
TurboTax Desktop Products ComparisonStill have questions?
Make a postAsk questions and learn more about your taxes and finances.
angelaboone
New Member
lindary
Returning Member
JMB011
New Member
MyKnew
New Member
Ash94
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.