Business vs Home and Business

My husband and I jointly own an LLC. We have filed using TurboTax Home and Business software for the past few years. Should I also be purchasing and filing TurboTax Business or does the Home and Business have me covered? I blindly assumed that as it was named Home AND Business that it encompassed both but some questions on here have me doubting.

posted

It depends on what sort of tax entity the Limited Liability Company is.

If a Sole-proprietorship which uses Schedule C, yes, that is the correct program.

If it is something else, such as a Partnership or S-Corp, no, that would need to be done first with TurboTax Business and the owners, stockholders, or Partners would each get a K-1 for use on their personal return.

Link to "What is an LLC"

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