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jquarles75
Level 1

If I own an LLC but also have a regular job, would Self-Employed be the best option, or would I need Business + Deluxe?

 
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ThomasM125
Expert Alumni

If I own an LLC but also have a regular job, would Self-Employed be the best option, or would I need Business + Deluxe?

If you are the only owner of the LLC, you can file your business income and expenses as a sole-proprietor on a schedule C by using the self-employed version of TurboTax. That way, you will not need a separate tax return to report your business income and expenses, you just file it on your personal tax return as a schedule C attachment.

 

If you have more than one owner, then you need to complete a partnership tax return form 1065, using the TurboTax "Business" product.

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ThomasM125
Expert Alumni

If I own an LLC but also have a regular job, would Self-Employed be the best option, or would I need Business + Deluxe?

If you are the only owner of the LLC, you can file your business income and expenses as a sole-proprietor on a schedule C by using the self-employed version of TurboTax. That way, you will not need a separate tax return to report your business income and expenses, you just file it on your personal tax return as a schedule C attachment.

 

If you have more than one owner, then you need to complete a partnership tax return form 1065, using the TurboTax "Business" product.

**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

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