business

Forum|Forum|4 years ago
March 9, 2022
2 replies
8 views

1. Can I file business tax return with Turbo Tax?

2. If I earn $187 from my business, can I combine business income with W2 income to file tax return?

rjs

Level 15

What type of organization is your business? If it's a sole proprietorship or single-member LLC, in most cases you would report the business income on your personal tax return, together with your W-2 income. For any other type of business organization, in most cases you would have to file a separate tax return for the business, and then enter information from the business tax return in your personal tax return. You could use TurboTax Business (which is not the same as TurboTax Home & Business) to file the tax return for the business.

Vanessa A

Level 15

If you have a sole proprietorship, yes to both. You can file your business taxes using TurboTax Self-Employed on Schedule C. You will kind of combine it with your W2 in that they both will be reported on your 1040. You will enter your self employment income by clicking Federal>>Income and Expenses>>Show more next to self-employment then start.

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