A corporation such as an S-Corp is required to file an IRS Form 1120-S tax return. The due date is March 15, which is a full month before the standard April 15 due date for a personal tax return.
None of the TurboTax personal editions include the 1120-S. For a corporate tax return you have to purchase TurboTax Business, which is different from Home and Business.
You can't complete your personal return until you have completed the corporate return. The corporate return will issue all owners of that coporation a K-1, which each owner will need in order to complete their personal tax return.
@schfiftyfive115 wrote:
So, if you file your 1120-s and schedule k-1 by mail then would you then be able to use turbotax self employed?
If you have a K-1 (1120-S) to enter into your individual income tax return, you can use any desktop (installed) version of TurboTax.
If you want to use an online version of TurboTax, you will have to use Premier or Self-Employed to enter your K-1 into the program.