LLC partnership

[bmcclain65]

Can TurboTax Home and Business be used with an LLC partnership?  Or must it be TurboTax Business?  Is Home and Business available on a Mac?

[VolvoGirl]

Sorry if you need to prepare a Partnership return you need Turbo Tax Business.  But it is only available for Windows.   If you just need to enter a K-1 you got from the Partnership you can use any personal Desktop program.  

[bmcclain65]

So....I am just trying to determine if I need to purchase BOTH TurboTax Deluxe and TurboTax business?  Or, just the Business version.  The LLC partnership is new and I have another, regular, non-self-employment job for which I have always used the Deluxe version.

[rjs]

You need both. You need TurboTax Business to prepare the Form 1065 tax return for the partnership. You need one of the personal editions, such as Deluxe or Home & Business to prepare your personal Form 1040 tax return. Home & Business cannot do the partnership, and Business cannot do your personal return.

Home & Business is available for the Mac, but Business is only available for Windows.

The Form 1065 partnership return will include a Schedule K-1 for each partner. You have to enter the information from the Schedule K-1 in your personal Form 1040 tax return.