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finance
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What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

 
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7 Replies

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

What type of business? S Corp? C Corp?
WA does not have a personal state income tax.

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

You might need Turbo Tax Business.
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.
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes">https://turbotax.intuit.com/small-business-taxes</...>
finance
New Member

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

@SweetieJean We are S Corp
finance
New Member

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

@VolvoGirl so there is no such thing as 1 version fits all for this purpose?

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

Sorry, you need two versions.
rjs
Level 15
Level 15

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

That is correct. There is no single version of TurboTax that will allow you to file both your personal and S corp tax returns. You need TurboTax Business (not Home & Business) for the S corp, and one of the personal versions for your personal tax return.
Carl
Level 15

What TurboTax version can I use to file both corporate and personal tax returns? I own a business in WA.

TurboTax Business is for filing a tax return for a non-breathing non-living separately taxable entity. TurboTax business can not be used to file a personal tax return of any type, because it does not include any version of the 1040. TurboTax Business is not available as an online product, or for MACs. It's for the Windows platform only. You must purchase the program and physically install it on a Windows computer. TurboTax Business can be purchased online at https://turbotax.intuit.com/small-business-taxes/  After you pay for the program, you can download the installation file and double click the downloaded file to install the program on your Windows computer. After installing, there will be a "TurboTax Business 2017" icon on your desktop, which is used to start the program.

Note that you *MUST* complete the business return *FIRST* before you can even start your personal tax return. That's because the business will issue a K-1 to all owners of the business, which each owner will *need* in order to correctly and completely complete their 1040 personal tax return.

TurboTax Business is used for the following types of tax returns:

Estate - Files IRS Form 1041 Estates & Trusts Return
Trust - Files IRS Form 1041 Estates & Trusts Return
Multi-Member LLC - Files IRS Form 1065 Partnership Return.
Partnership - Files IRS Form 1065 Partnership Return.
S-Corp - Files IRS Form 1120-S Corporate Return.
C- Corp - FIles IRS Form 1120 Corporate Return.
An LLC that has filed IRS Form 8832 requesting to be treated "like an S-Corp" for tax purposes - Files IRS Form 1120-S Corporate Return.

The TurboTax Business program *DOES* *NOT* include IRS Form 1040, 1040-A or 1040-EZ and can not be used to file a personal tax return for any kind of breathing, living person.

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