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Returning Member
posted Nov 16, 2022 9:39:18 AM

business

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/

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1 Replies
Level 15
Nov 16, 2022 9:42:10 AM

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.