I have used the Deluxe package in the past. In 2016, however, I formed an LLC. Should I use the Self-Employed package for 2016? If so, how do I make this change?

[DDollar · Accepted solution]

If you are a single member LLC, then the IRS considers you a "Disregarded Entity" for tax purposes, unless you have applied for S-Corp tax status.  As a disregarded entity you report your income and expenses on Schedule C.  If using TurboTax Online, you would use the Self-Employed version.  If you don't have any business expense to report, you can complete Schedule C and report your income using Deluxe or Premier.  If you need to switch to Self-Employed, the program will make the upgrade based on answers you give in the interview.

To compare Online Products click on: Online Products and Pricing Guide

If your LLC has more than one member, you will need to file Form 1065. If your LLC has received S-Corp status you will need to prepare Form 1120S.  These returns can be prepared using TurboTax Business. 

To purchase TurboTax Business click on: Purchase TurboTax Business