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Level 1
posted May 31, 2019 11:48:17 PM

I need to file S Corp and personal taxes. Which TurboTax do I complete first? Deluxe or Business? I assume I need information generated by one for the other.

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1 Best answer
Expert Alumni
May 31, 2019 11:48:19 PM

Business. You need to complete the SCorp's 1120S return first, so you have the K1 (1120s) to enter on your personal return.

Your personal return won't be complete without this K1. When the business' return is done, you will enter the K1 here (in Deluxe):

  • Federal Taxes
  • Wages and Income
  • Business Items
  • Schedule K1
  • Just type in the K1 exactly as it appears.

1 Replies
Expert Alumni
May 31, 2019 11:48:19 PM

Business. You need to complete the SCorp's 1120S return first, so you have the K1 (1120s) to enter on your personal return.

Your personal return won't be complete without this K1. When the business' return is done, you will enter the K1 here (in Deluxe):

  • Federal Taxes
  • Wages and Income
  • Business Items
  • Schedule K1
  • Just type in the K1 exactly as it appears.