business

Forum|Forum|3 years ago
November 16, 2022
1 reply
1 view

I incorporated my business in june 2020 but prior I was filing under my name. For tax purposes should I file two tax returns, personal and business.

How should this be done since I recently incorporated my brand/

VolvoGirl

Level 15

Did you mean 2022? Yes you need another separate Business program. You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment. TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes

You can have both a personal program and the Business program installed on the same computer at the same time.

You will get a W2 or K-1 from the business return to enter into your personal return. So you will need to do the Business return first.