Turbo tax desktop

[asencio]

I usually use turbo tax online.  I'm looking to change to turbo tax desktop.  I need to file two multi member LLC's and a joint personal.  What would be the best version? Home and Business?  Will the cost of the software, $120,

allow me to file all 3 returns?

[M-MTax]

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@asencio wrote:

Will the cost of the software, $120 allow me to file all 3 returns?

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No, you would need TurboTax Business to file the 1065s for your multi-member LLCs and then Home & Business to file your personal 1040.

[VolvoGirl · Accepted solution]

Sorry you will need 2 programs.  The Business program and a personal version.  For your personal return you need the Online Premium version Or buy any of the Desktop CD/Download programs for Windows or Mac.  All the personal Desktop programs have the same forms, you get more help in the higher versions.  

For a business or Trust/Estate return you need the Turbo Tax Business Desktop program for Windows.  It is not available to do online or on a Mac.  And it will not do your personal 1040 return.  It is not the same as the Desktop Home & Business program.  You can have both Turbo Tax Business and a personal version (like Home & Business) installed at the same time.

You can buy the Window's Business Desktop program here…..

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

[asencio]

CanI file both LLC's witht the Turbo Tax Business for the cost of $180?  Or will I need a Turbo Tax Business for eash LLC?

[M-MTax · Accepted solution]

You can file both LLCs with one copy of TurboTax Business. No need to buy one for each LLC.

[VolvoGirl]

Yes.  For federal you can use one Business program for additional businesses, even if they are different kinds of business or an Estate/Trust.  You get 5 free Federal efiles.  You can print and mail any more.  State is sold separately.   

Preparing state tax returns for more than one business?  I haven’t checked the current prices so these might be old.

When they are the same types of businesses (such as two S Corps) and file taxes in the same state, buy one state product $55 and use for all at no extra charge. Business State efile included.

When they are the same types of businesses (such as more than one LLC), but file taxes in different states, buy one product per state for $55.  Business State efile included.

When they are different types of businesses (such as an S Corp and a partnership) and file taxes in the same state, purchase one product for each business type for $55 per each business type. Business State efile included.