No, you do not have to buy the software twice. The desktop software can be used to prepare and e-file up to five federal returns; if you have more than five, the others can be filed by mail. However,----what are the "small businesses?" You need TurboTax Business if you have a C-corps, S-corps, multi-member partnership or estate return to prepare. If you are a sole proprietor, you may only need online Premium or any version of the desktop software in order to prepare a Schedule C for your business expenses.
What kind of business entities? Do you report them on Schedule C in your personal return or file separate business returns like 1065 or 1120? For separate business returns……
For federal you can use one Business program for additional businesses, even if they are different kinds of business or an Estate/Trust.
You have to buy the state Business program separately from inside the federal program.
Preparing state tax returns for more than one business?
When they are the same types of businesses (such as two S Corps) and file taxes in the same state, buy one state product and use for all at no extra charge. Business State efile included.
When they are the same types of businesses (such as more than one LLC), but file taxes in different states, buy one product per state for $55. Business State efile included.
When they are different types of businesses (such as an S Corp and a partnership) and file taxes in the same state, purchase one product for each business type for $55 per each business type. Business State efile included.
TurboTax® Business Desktop 2023-2024 | Tax Software Download
TurboTax Business State products are sold separately by state and entity type. With each TurboTax Business State product, you can complete returns for more than one business only if they are the same entity
If you have not incorporated your businesses then the Schedule C is used with your personal tax return, Form 1040. You can complete multiple Schedule C's with the TurboTax personal software, desktop or online.
TurboTax 2024 online editions - https://turbotax.intuit.com/personal-taxes/online/file-your-own-taxes/
TurboTax 2024 desktop download editions - https://turbotax.intuit.com/personal-taxes/cd-download/
If you have incorporated your businesses to a S Corp, C Corp or Partnership you would need to use the TurboTax Business Edition. More than one corporate tax return can be completed using the Business Edition.
The Business Edition can only be installed on a Windows based personal computer. The Business Edition cannot be used for a personal tax return, Form 1040.
TurboTax 2024 Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/