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gregid8181
New Member

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

 
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Accepted Solutions
SweetieJean
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

You will need TT Business (not Home and Business) for the S Corp, but it is only available as a desktop version, and then only for Windows.

You will also need one of the personal versions of TT to do the 1040.  The SuperUsers prefer desktop.

https://turbotax.intuit.com/personal-taxes/cd-download/

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

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8 Replies
SweetieJean
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Is the Travel Agency an S Corp?  Are you the sole owner?
gregid8181
New Member

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Yes, S Corp.  Co-owned with my wife and we are the sole employees.
SweetieJean
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

You will need TT Business (not Home and Business) for the S Corp, but it is only available as a desktop version, and then only for Windows.

You will also need one of the personal versions of TT to do the 1040.  The SuperUsers prefer desktop.

https://turbotax.intuit.com/personal-taxes/cd-download/

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

View solution in original post

gregid8181
New Member

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Thank you!
Critter
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

You used the term "employees"  ... I hope that means that you have been filing the appropriate employment tax forms & actually issuing W-2 for yourselves.
SweetieJean
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

gregid8181
New Member

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Yes, we do.
SweetieJean
Level 15

I own a small business (travel agency). Will I need both 1040 and Business software with State extensions. Is that correct? Should I buy CD or online software?

Terrific!
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