turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mcox-ipro
New Member

I started an LLC in 2017. My adult daughter (HOH) is my partner. I'm filing MFJ with my wife. Will TurboTax handle this? How to proceed?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MinhT
Expert Alumni

I started an LLC in 2017. My adult daughter (HOH) is my partner. I'm filing MFJ with my wife. Will TurboTax handle this? How to proceed?

You have to file a partnership tax return for your LLC (form 1065). In the partnership return, there will be a form 1065 K-1 for each partner.

Each partner would then report his/her form K-1 on their own tax returns.

To prepare and file form 1065 for your LLC, you'll need TurboTax Business (CD/Download)

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

For your (and your daughter's) personal tax returns, you'll need at least TurboTax Premier Online or CD/Download.

https://turbotax.intuit.com/personal-taxes/online/premier.jsp

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
MinhT
Expert Alumni

I started an LLC in 2017. My adult daughter (HOH) is my partner. I'm filing MFJ with my wife. Will TurboTax handle this? How to proceed?

You have to file a partnership tax return for your LLC (form 1065). In the partnership return, there will be a form 1065 K-1 for each partner.

Each partner would then report his/her form K-1 on their own tax returns.

To prepare and file form 1065 for your LLC, you'll need TurboTax Business (CD/Download)

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

For your (and your daughter's) personal tax returns, you'll need at least TurboTax Premier Online or CD/Download.

https://turbotax.intuit.com/personal-taxes/online/premier.jsp

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies