Solved: I already have my K1 for my business. which product should I choose?
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I already have my K1 for my business. which product should I choose?

 
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New Member

I already have my K1 for my business. which product should I choose?

Certain tax situations and forms can't be handled in the Federal Free Edition and cannot be filed without an upgrade. Different products include different tax situations. You may be asked to upgrade to Deluxe if you have itemized deductions, own a home, have education related expenses, or you have another tax situation that cannot be handled with the Federal Free Forms. For more information see the article below.

Our 2016 TurboTax Online product lineup delivers the right experience for your tax situation:

·       Simple returns (1040-EZ or 1040-A) with the standard deduction is supported in TurboTax Federal Free Edition.

·       1040 long form with itemized deductions (Schedule A) is supported in TurboTax DeluxeTurboTax Premier and TurboTax Self-Employed.

·       Investment Schedules D (investment income) and E (rentals) are supported in TurboTax Premier and TurboTax Self-Employed.

·       Self-employment income (independent contractor, freelancer, etc.) as well as schedules C, C-EZ, and F are supported in TurboTax Self-Employed.

Tell us about you and we'll recommend the TurboTax product that's right for you.

Still not sure? Start with our TurboTax Online Federal Free Edition – if your tax situation requires an upgrade, we’ll let you know.

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New Member

I already have my K1 for my business. which product should I choose?

Certain tax situations and forms can't be handled in the Federal Free Edition and cannot be filed without an upgrade. Different products include different tax situations. You may be asked to upgrade to Deluxe if you have itemized deductions, own a home, have education related expenses, or you have another tax situation that cannot be handled with the Federal Free Forms. For more information see the article below.

Our 2016 TurboTax Online product lineup delivers the right experience for your tax situation:

·       Simple returns (1040-EZ or 1040-A) with the standard deduction is supported in TurboTax Federal Free Edition.

·       1040 long form with itemized deductions (Schedule A) is supported in TurboTax DeluxeTurboTax Premier and TurboTax Self-Employed.

·       Investment Schedules D (investment income) and E (rentals) are supported in TurboTax Premier and TurboTax Self-Employed.

·       Self-employment income (independent contractor, freelancer, etc.) as well as schedules C, C-EZ, and F are supported in TurboTax Self-Employed.

Tell us about you and we'll recommend the TurboTax product that's right for you.

Still not sure? Start with our TurboTax Online Federal Free Edition – if your tax situation requires an upgrade, we’ll let you know.

View solution in original post

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Level 15

I already have my K1 for my business. which product should I choose?

To enter a K-1 into the online versions you need to use online Premier or higher.

If you buy the Desktop CD/Download program you can enter a K-1 into any Desktop version.

Or if you qualify there is the Tax Freedom website which is free for both federal and state.
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