I need to handle taxes for both an estate I administered as well as handle taxes related to a personal home business & rentals. Looks like only TurboTax Business can handle the estate taxes (1041), but can that version also be used for my personal home business w/ rental income tax filings? Or do I need to purchase 2 different versions of TT (Business & Home/Business) versions?
@Jam772 wrote:
...do I need to purchase 2 different versions of TT (Business & Home/Business) versions?
You need to purchase two different versions; TurboTax Business and also a personal income tax preparation product, such as TurboTax Home & Business.
TurboTax Business can only be used to prepare income tax returns for entities (e.g., trusts/estates).
You need two separate TurboTax editions.
The Business Edition for the Estate and Trust tax return, Form 1041 - https://turbotax.intuit.com/small-business-taxes/
And one of the TurboTax personal desktop CD/Download editions. The Home & Business edition would be recommended - https://turbotax.intuit.com/personal-taxes/cd-download/