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New Member
posted Jun 7, 2019 4:09:48 PM

I own a business and also have personal rental properties...which version should i buy?

I own an llc business which has payroll employees.

I also have some rental properties in my own name.

Which Turbotax version will include both?

Thanks!

0 9 1861
1 Best answer
Level 13
Jun 7, 2019 4:09:58 PM

I assume you are asking about preparing your personal income taxes, not referring to an income tax return that needs to be prepared by "the business" and separately filed.  (The latter requires TurboTax Business, not Home & Business.)

All the desktop versions support the exact same Forms, Schedules and Worksheets so, in theory, any income tax return can be prepared by any version.  As you go up the price chain you get more hand-holding, more specific directed interviews in areas that are most likely needed by most taxpayers.  The general recommendation here if you think you won't need to much hand-holding and are comfortable entering some information in "Forms mode", (i.e., not entering all you information through the interviews themselves), is to start with Deluxe.  If you feel you need more help or there are subjects not directly addressed through the interview you can always upgrade "on the fly", paying only the differential between the version you're using and the version you're upgrading to.

Tom Young

9 Replies
Level 15
Jun 7, 2019 4:09:50 PM

Is the Business taxed as an S Corp?

New Member
Jun 7, 2019 4:09:53 PM

llc I'm the sole member

Level 15
Jun 7, 2019 4:09:54 PM

An LLC is a legal entity. But is it taxed as an S Corp?

New Member
Jun 7, 2019 4:09:55 PM

no

New Member
Jun 7, 2019 4:09:57 PM

all profit rolls to me personally

Level 13
Jun 7, 2019 4:09:58 PM

I assume you are asking about preparing your personal income taxes, not referring to an income tax return that needs to be prepared by "the business" and separately filed.  (The latter requires TurboTax Business, not Home & Business.)

All the desktop versions support the exact same Forms, Schedules and Worksheets so, in theory, any income tax return can be prepared by any version.  As you go up the price chain you get more hand-holding, more specific directed interviews in areas that are most likely needed by most taxpayers.  The general recommendation here if you think you won't need to much hand-holding and are comfortable entering some information in "Forms mode", (i.e., not entering all you information through the interviews themselves), is to start with Deluxe.  If you feel you need more help or there are subjects not directly addressed through the interview you can always upgrade "on the fly", paying only the differential between the version you're using and the version you're upgrading to.

Tom Young

New Member
Jun 7, 2019 4:10:01 PM

when will the 2017 tax year software be available for purchase?

Level 9
Jun 7, 2019 4:10:03 PM

The download/CD version is available now:   <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/">https://turbotax.intuit.com/</a>
The online version is not available until sometime in December.

New Member
Jun 7, 2019 4:10:05 PM

I file one return for my business which is an LLC and one for for my personal taxes