Hello,
I have a question on whether Self Employed will cover all of the following incomes.
I have a few sources of income-
1) house/pet sitting
2) I am an employee with a W-2
3) I am a member of a 2 member LLC.
Do I need to use one filing with Self Employed Turbo Tax for #3, and another filing under a separate Self Employed Turbo Tax for #1 and #2, so $90 x 2? Could all 3 be done within one Turbo Tax product filing, in other words just paying $90?
Thanks!
For #3 - Do you also need to prepare the LLC Business return? Then you will need Turbo Tax Business which is a separate program from the personal versions.
To report all your income it all goes on your personal tax return. You only file 1 tax return for all your income. Yes you will need the Online Self Employed version or any of the personal Desktop programs for your 1040 return. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
Oh if you do need to prepare a LLC return, You need Turbo Tax Business. The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return. It is a separate program from the Desktop Home & Business program or the Online Self Employed version.
Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's version here. And you can have both TT Business and TT Home & Business (or any personal version) installed on your computer at the same time.