You have two tax return to prepare, using two different software programs. For your S-corps business you will need TurboTax Business on a Windows computer--or you can use Live assisted online Business. You cannot use TT Business to prepare your personal Form 1040.
https://turbotax.intuit.com/small-business-taxes/
For your personal Form 1040, you can use any version of the desktop download or online do-it-yourself software or live assisted software.
2024 TURBOTAX
DOWNLOAD (This requires a full PC or Mac—-cannot be used on a mobile device)
https://turbotax.intuit.com/personal-taxes/cd-download/
You can also purchase the desktop download from various retailers such as Costco, Amazon, Walmart, Best Buy, Staples, Sam’s Club, etc. etc. etc.
This link Where can I obtain authentic TurboTax software? has a list of authorized TurboTax resellers.
When you use desktop software, there is an additional fee to e-file a state return. You can avoid that fee if you print, sign and mail the state return. The state e-file fee is $20 and increases to $25 in March.
https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-...
https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-system-requirements/minimum-syst...
ONLINE 2024
https://turbotax.intuit.com/personal-taxes/online/
And just so you know—online prices go up in March—Pay your fee before then to lock in the discount
https://turbotax.intuit.com/personal-taxes/online/live/how-it-works.htm
https://turbotax.intuit.com/personal-taxes/online/live/full-service/
As for deducting property tax-----property tax is an itemized deduction which goes on Schedule A and the deduction is capped at $10K. If you do not have enough other itemized deductions like mortgage interest, medical expenses, etc. the property tax will have no effect and you will just get your standard deduction.
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts) The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the tax laws that have been in effect since 2018, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.
Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
FLORIDA
Florida does not have a state income tax. You should have skipped the FL tax unless you own rental property in FL or a FL based business.
Florida has a tangible personal property tax form that is used in a Florida-located business or rental property and is filed with the county property appraiser by April 1st.
If you do need to file a Form DR-405, nothing will print (except an instruction sheet) unless assets were transferred or you manually entered assets in the DR-405 worksheet.
If you do not have tangible personal property to report, choose Skip State in the State Taxes section.
If you proceeded past the warning screens, try deleting the Florida return --> https://ttlc.intuit.com/questions/1900608
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
