I will be receiving a 1099K from my own business, plus a W2, what TurboTax product will work for me?

[Anonymous_ · Accepted solution]

You can use any TurboTax desktop version, but you will need Self-Employed if you have a business with the typical deductions if you want to prepare your return online.

[VolvoGirl]

Wait,  What kind of business entity?  Are you self employed or a Single Member LLC?  Or do you file a separate Business return and get a W2 and K-1 from the business return?  Or did you mean you will receive a 1099K FOR  your business (not from)?  

[linvin]

Hi VolvoGirl, I meant K1, not 1099k. It's a C Corp filing as an S corp. I will have my business' taxes done by a professional, but I'm used to doing my own personal taxes. This is the 1st year I will get a K1, and I can't tell which TurboTax product to purchase 

[VolvoGirl]

OK  That's what I thought you meant.  The K-1 is the only thing you enter on your personal return for the business.   You need to use the Online Premier version to enter a K-1 or any of the Desktop CD/Download programs.  All the Desktop programs have the same forms.