Which turbo tax software I use for S-corp plus personal tax return?

[mesquitebean]

You would need two separate products for an S-corp return and a personal tax return.  However, the Business Edition is only for Windows, and I see you posted this question from a Mac computer.  Do you also have a Windows computer?

TurboTax has a product called "Business Edition" for corporate returns (S-corp, C-corp), partnerships, multimember LLC, etc.   It is strictly desktop software (CD/download) to be installed on a Windows computer.  There is not a MAC version.   I have seen some reports in this forum that some Mac users have run it in  Parallels or other program that can emulate Windows, but I don't know anything about that.

Here's more information on the Business Edition (for Windows):

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

For a personal return, assuming you will need to report a K-1 you receive from the S-corp, and if you plan to use Online TurboTax, you will need Premier or higher (Self-Employed Edition).   If you don't need a Schedule C or F for any self-employed business or farm, then in an online product Premier would be fine.

In the desktop editions (CD/download), all of the personal tax products can handle reporting a K-1 that you receive from the S-corp.  The desktop editions differ in other ways, such as the amount of help and guidance, and whether or not a state program is included.

[BigLouGee]

Great Answer! Provided nuances for selection of Business and Personal tax return tools

[MrDean]

You can get Turbo Tax for Business for Mac via a download but not on CD. Call TT sales or support to order, then download for 2019!

[Critter]

@MrDean 

Not sure where you got your info but the TT BUSINESS version is still ONLY a windows product no matter which way you buy it ... see the order page here :  https://turbotax.intuit.com/small-business-taxes/

[LQT]

I bought cd/download versions: TurboTax Business for our S Corp, and Deluxe for personal tax return from Costco. Unlike what you said, I read on the cover of TurboTax Business that customers of TurboTax Business use TurboTax Premier for their personal tax returns (sold separately). Please note I didn’t read that when I bought the two products. 
Now I am thinking of returning TurboTax Deluxe and buying TurboTax Premier. Please advise if I am still good with Deluxe?

LQT

[DavidD66]

You can either return the Deluxe version and buy Premier, or you can just use the Deluxe software, and upgrade from within the program.  The Deluxe version has all the forms that premier does, it just doesn't have all the step by step interview sections.

[mesquitebean]

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@ LQT  wrote:

I bought cd/download versions: TurboTax Business for our S Corp, and Deluxe for personal tax return from Costco. Unlike what you said, I read on the cover of TurboTax Business that customers of TurboTax Business use TurboTax Premier for their personal tax returns (sold separately). Please note I didn’t read that when I bought the two products. 
Now I am thinking of returning TurboTax Deluxe and buying TurboTax Premier. Please advise if I am still good with Deluxe?

LQT

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All of the desktop editions (CD/download) can prepare the same forms.  They only vary in the amount of help and guidance (and Basic Edition does not include a state program and can't import from ItsDeductible).  

If you are asking in regards to entering a K-1 from your S-Corp into your personal tax return, both desktop Deluxe and Premier (and all other desktop editions) can enter a K-1 and prepare Schedule E.

It is Online TurboTax that is different in that regard.   In Online TurboTax, Premier or higher is required to enter a K-1 and prepare Schedule E.      But that is only in the Online editions and doesn't apply to you in a desktop product. 

You are using Deluxe desktop, which is a fully-featured product.   It's up to you if you want to upgrade to Premier for additional help/guidance.  You can always try the Deluxe and then decide if you want to upgrade from within the program.

Be aware that desktop Deluxe comes in 2 versions--one that is a combo Federal and State, and one that is Federal-only.    If you need a state return or vice versa, make sure you bough the correct version of Deluxe.

EDIT NOTE:  Typo corrected above.  I meant to type "Federal-only", not "state-only", and it is now corrected.

[mesquitebean]

@LQT 

Oh good grief!  There was a typo in my last comment above.   When I was explaining that when bought at a retail merchant, Deluxe comes in 2 versions, I meant to say it comes in these 2 versions--a combo version that includes both Federal and state programs, or as a Federal-only version.  I mistyped above and typed the latter as " state-only" instead of Federal-only, but I have corrected it now above.   You may have been emailed the original comment, so I'm sorry for any confusion.

[liz7171]

I spent several hours on the phone today with TurboTax support, trying to solve an issue with e-filing my Wisconsin S-Corp return using Business 2020 (desktop download.) I repeatedly get a pop-up telling me my version of TT needs an update before I can e-file my state return, but my program is up-to-date and none of the suggested fixes I read about in this forum has allowed me to e-file it. The federal return e-filing went through just fine. The TT rep finally suggested upgrading to TT Online Self Employed and assured me it could handle an S-Corp return. I've been trying to confirm that and ran across your message above indicating it cannot - has the online TT functionality changed since you this post from 2019?

[ErnieS0]

@liz7171 TurboTax Business and TurboTax Self-Employed are two completely different products. TurboTax Business will prepare an S-Corp return (Form 1120S) along with Partnerships (Form 1065) and Estates and Trusts (Form 1041); Self-Employed will only handle personal returns and is limited (on the business side) to preparing Schedule C and single member LLCs filing a Schedule C as a disregarded entity.

Try manually updating TurboTax Business. That may fix your Wisconsin e-file issue.

[mesquitebean]

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@ liz7171 wrote:

I spent several hours on the phone today with TurboTax support, trying to solve an issue with e-filing my Wisconsin S-Corp return using Business 2020 (desktop download.) I repeatedly get a pop-up telling me my version of TT needs an update before I can e-file my state return, but my program is up-to-date and none of the suggested fixes I read about in this forum has allowed me to e-file it. The federal return e-filing went through just fine. The TT rep finally suggested upgrading to TT Online Self Employed and assured me it could handle an S-Corp return. I've been trying to confirm that and ran across your message above indicating it cannot - has the online TT functionality changed since you this post from 2019?

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The Self-Employed Edition is only for personal tax returns for folks with a Schedule C business or  who have a single-member LLC electing to use Schedule C.  I'm not a tax person, so see the comments that @ ErnieS0 also left you in this thread in more detail

As for your corporate state return efile-update loop, here's some info:

There is a known issue when efiling a Wisconsin state corporate return.  Several Wisconsin filers using Business Edition users have reported they are affected by a state efile-update loop.  It's being discussed in the thread below as well as other threads:

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-efile-a-wisconsin-s-corp-tax-return-that...

[pickebe]

I've no idea what you mean about me having a Mac.  I do not.  I have a PC.  Does that still mean I will have to purchase two programs:  one for 1040 and a second for my 1120S?

[SweetieJean]

Yes, you must purchase two separate programs.

[mesquitebean]

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@ pickebe wrote:

I've no idea what you mean about me having a Mac.  I do not.  I have a PC.   Does that still mean I will have to purchase two programs: one for 1040 and a second for my 1120S?

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You're posting in an old thread with multiple users with various situations.  Any references to a Mac in old comments were directed to someone else, so just ignore it.   The Business Edition software (corporate returns, partnerships, multimember LLC, estates/trusts, etc.) is only available for Windows.  To also prepare a personal tax return you would still need one of the personal products as well.