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

[Steven272]

Whcih turbo tax software should I use to file 1120 S and 1040

[JosephS1]

You need 2 separate packages to prepare and file your 1120S and 1040.  TurboTax for Business for the 1120S and TurboTax Premier for your 1040 since you will have a K-1 to enter.

The links below will show what forms are included with the various TurboTax products

TurboTax Individual Forms Available

TurboTax for Business

@Steven272

[xcicix]

Hi just wanted to see if there's any updates on turbo taxes program that they offer since this message was from 2019 but i have seen other companies come out with bundle packs for s-corp filing and personal filing togther. I was wondering if turbo tax has anything like this yet for 2023 or do we still need to buy the two program separately? 

[xmasbaby0]

@xcicix No, TurboTax does not have any sort of "bundle" for you to prepare a corporate return and a personal individual return using the same software program.   If you need to prepare both a corporate return and your individual 1040, then you will need both TurboTax Business--which must be used on Windows-- and either TurboTax Deluxe or Premium desktop software.

CD/DOWNLOAD (This requires a full PC or Mac—-cannot be used on a mobile device)

https://turbotax.intuit.com/personal-taxes/cd-download/

You can also purchase the CD/download from various retailers such as Costco, Amazon, Walmart, Best Buy, Staples, Sam’s Club, etc. etc. etc.

This link Where can I obtain authentic TurboTax software? has a list of authorized TurboTax resellers.

When you use desktop software, there is an additional fee to e-file a state return.  You can avoid that fee if you print, sign and mail the state return.  The state e-file fee is $20 and increases to $25 in March.

https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-...

https://ttlc.intuit.com/turbotax-support/en-us/help-article/product-system-requirements/minimum-syst...

[Critter-3]

TT still requires separate programs to be purchased... no bundles like other companies.

[jeh1x]

why does Home & Business not work for S-corp return K-1? It did last year!

[Vanessa A]

You can enter the K-1 from the S-Corp on TurboTax Home and Business by selecting the following:

1. Federal
2. Personal Income
3. I'll  choose what I work on
4. Start next to Schedule K-1 under Business Investment and Estate/Trust Income near the bottom of the screen
5. Yes to did you receive one
6. Start next to S-Corporations (Form 1120S)
7. Walk through to enter your K-1

TurboTax Home and Business has never worked to file the S Corp 1120S.  For that you need TurboTax Business

[jeh1x]

It worked for the last 2 years! K-1s were filed and confirmed by TT. Why is it not working this year? The product 

sales person confirmed it would work last week and as soon as I purchased the product I received an e-mail saying I must procure a separate business product as well!? Is there confusion about producing the K-1??

[PatriciaV]

A single-member LLC may be included in a Form 1040 return, but not an S-Corp LLC. That may explain the confusion.

@jeh1x 

[VolvoGirl]

@jeh1x   Do you need to create the 1120 S corp return and the K-1?  Then you do need a separate program, Turbo Tax Business.  It is a separate program from the personal Home & Business program.  H&B is only for your personal 1040 return that needs a Schedule C for self employment.  You can enter the K-1 you get from the S corp return into Home & Business.

Do you need to buy the Business program?   You can buy the stand alone do it yourself Business CD/Download program for Windows here (it is not available to do online or for Mac). There are 2 ways to buy it. If you want a CD you need to pick the Advantage Plan in the right box.
https://turbotax.intuit.com/small-business-taxes/cd-download

You can have both Business and Home&Business (or any personal version) installed on the same computer at the same time.  

[DoninGA]

@jeh1x The TurboTax personal edition of Home & Business has always supported the entry of a Schedule K-1 that was received.

The Home & Business edition has never had the capability to create, complete and file a Form 1065 nor create a Schedule K-1.  That can only be done using the TurboTax Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/