Can I just file my shared business taxes instead of my peronal?

rxguy103 · ‎February 9, 2020

AlanT222 · ‎February 9, 2020

Unfortunately you cannot just file your shared business taxes. If you own a business with another person, you must report your share of the profits and losses on your individual income tax return.

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Critter · ‎February 9, 2020

Do you need to complete a partnership return form 1065?

For your 1065 you will need to use TT Business. This is only available for as a download and only for windows environments. https://turbotax.intuit.com/small-business-taxes/
Once you have completed the business return (form 1065) you will use the K-1's to complete your personal tax return (form 1040). Check out the intuit home page to determine which product best suits your needs. There are numerous options for both download and online
Multi-member LLC tax returns can be complicated, especially the initial year. I would recommend that you consult with a tax professional at least for your initial year to get started on the right path and help you understand the nuances of partnership tax.