Are we able to import from TT Self Employed to the desktop Business version? Started a new LLC and it's more complicated now.

[Critter-3]

If you mean the ONLINE SE version to the DOWNLOADED Home & Business version then yes.  To the BUSINESS version then no.

Did you incorporate the LLC  or is it a Partnership?  If so you will need a personal program AND one for the business return.  

[VolvoGirl]

You can transfer or open the online Self Employed version in the Desktop Home & Business program but not to the separate Business program.  What kind of LLC is it?  If it is a Single Member LLC that is not an S corp you still file it on Schedule C in your personal tax return.   Or do you need to do a 1120 S or 1065 Business return?

I can tell you how to move to the Desktop Home & Business program from online.

[heather-marco]

Thank you so much for responding. We have to file form 1065, I believe we're a multi-member LLC filing as an S Corp. So should I expect to finish filing our sole props and personal taxes under the Self Employed online program, but download the Business desktop program to file separately for our LLC?

[heather-marco]

Thank you so much for responding. What is the difference between the desktop Home & Business, vs. desktop Business? Is the 2nd one just for corporations while the 1st is for Sole Props? If so, I'm guessing I should expect to finish filing our sole props and personal taxes under the Self Employed online program, but download the Business desktop program to file separately for our LLC?

[VolvoGirl]

Right, Home & Business is for personal returns that have Schedule C for sole proprietor independent contractor self employed and Single Member LLC.  Home & Business is the same as the Online Self Employed version.

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.

https://turbotax.intuit.com/small-business-taxes

What kind of LLC do you  have?

A single owner LLC would be reported on Schedule C unless the LLC elected to be treated as an S corp or C corp.  Then they would also need to use Turbo Tax Business (not to be confused with Home & Business personal program). You will get a schedule K-1 (or a W2) from the business return to manually enter into your personal 1040 return.

[heather-marco]

Thanks again for all the info. We are a partnership (I guess), and when we received our EIN the IRS let us know that form 1065 is what we will need to file. Obviously I'm doing all of this super late, so that adds to the pressure.
I have our 1040 almost done and ready to file, but based on what you're telling me I will need to file our LLC's taxes first, to enter in the last bit of info (K-1?), yes?

[Critter-3]

Correct ... the form 1065 needs to be completed first to get the K-1 form for the personal return.  You need the BUSINESS program to complete the partnership return :   https://turbotax.intuit.com/small-business-taxes/

Be aware the 1065 was due last March so it is now very late and expect the IRS to mail you a penalty notice ... since this is your first 1065 respond back with a plea for abatement due to ignorance and promise to never do it again. 

[heather-marco]

Ah... well that's fun. Hope they take some pity on this ignorant new corporation!
And thank you for the great advice.