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kyoko-miyagawa
New Member

I retired from my corporate job, and started my own business. What Turbotax should I use?

 I don't have a business license for my new job, but I'd like to have deductions.  I'm also receiving pension, and have a 1099-R. 

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AnthonyC
Level 7

I retired from my corporate job, and started my own business. What Turbotax should I use?

If you are a sole proprietor or a single-member LLC (sounds like you have a normal sole proprietor business without any formal arrangement), then you can use TurboTax Self Employed if you want to use the online program in order to account for your business income and expenses.  You can also include your pension with this program.

If you wanted to use desktop software that you install onto your computer, all of the appropriate forms are included in each level of product, but TurboTax Home and Business would give you the most additional guidance following the interview to enter your business income and expenses.  

View solution in original post

1 Reply
AnthonyC
Level 7

I retired from my corporate job, and started my own business. What Turbotax should I use?

If you are a sole proprietor or a single-member LLC (sounds like you have a normal sole proprietor business without any formal arrangement), then you can use TurboTax Self Employed if you want to use the online program in order to account for your business income and expenses.  You can also include your pension with this program.

If you wanted to use desktop software that you install onto your computer, all of the appropriate forms are included in each level of product, but TurboTax Home and Business would give you the most additional guidance following the interview to enter your business income and expenses.  

View solution in original post

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