Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 1, 2019 11:28:23 AM

I own a business (partnership)usually purchase deluxe. But I also started a sole proprietor which tax version can I use

1 3 312
3 Replies
New Member
Jun 1, 2019 11:28:23 AM

If you want to deduct expenses against your sole proprietor income, then you will need to use TurboTax Self-Employed (online) or TurboTax Home & Business (CD/Download).  These are essentially the same products -- just that one is an online version and one is a CD/Download version.

TurboTax Online Self Employed

TurboTax Download - Home & Business Edition



Level 1
Dec 30, 2020 7:29:16 PM

Hi, I am in the same boat as the original poster. I started both a partnership business and sole proprietorship. Will I need Deluxe for my sole proprietorship and my W2's from my previous employer and then Premier for the partnership? And will they have to be combined into one tax return when I file?   

Level 15
Dec 30, 2020 7:35:31 PM

No! You need 2 programs.  You need Turbo Tax Business to do the Partnership return.  You will get a K-1 and/or a W2 to enter into your personal return.  Turbo Tax Business  is not available to do online or on a Mac.  You can buy the Window's version here.  And you can have both TT Business and TT Home & Business (or any personal version) installed on  your computer at the same time.

https://turbotax.intuit.com/small-business-taxes

 

Desktop Windows System Requirements

https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-windows-software/00/26175

 

THEN to do your personal 1040 return you can either use the Online version or the Desktop CD/Download program.  For Online you will need Premier to enter a K-1.