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Darksideodds
Returning Member

Home & Business vs Business

Amazon shows "Home & Business" & "Business" options.    What is the difference?

 

I have a home business but also have a w-2 from unrelated employer........

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4 Replies

Home & Business vs Business

TurboTax Business is required if you have an S-corps, C-corps, multi-member partnership or estate return to prepare.  TT Business cannot prepare a personal Form 1040.  

 

If you are self-employed and have a sole proprietorship that is NOT organized as any of the above mentioned, then you can use Home and Business for your self-employment income and W-2 income.

**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.**
Darksideodds
Returning Member

Home & Business vs Business

Thanks for the response.   

 

To further clarify, I am an LCC (sole Proprietorship) home business.   PLUS, I have a W-2 from an unrelated employer.

 

So I can use Home & Business to completely cover my needs?

Home & Business vs Business

Yes, you can use Home and Business.   Are you new to being self-employed?

 

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_U...

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

If you live in a state with a state income tax, you might need to make estimated payments to your state.

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves...

 

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/payroll-additions-deductions/qualify-qua...

 

**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.**
Darksideodds
Returning Member

Home & Business vs Business

Yes, In 2024I started my new business.    Its a product a make in my basement and sold locally.    I have a LLC & EIN numbers.

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