Used self employed (personal/biz) for past few years. before 17 i worked a 9-5 gig & owned a solo biz. in 17 i added a new biz w/a partner. must i now upgrade to TT biz?

[DoninGA · Accepted solution]

If you are going to file a Form 1065 for a Partnership you will have to use the Business Edition - https://turbotax.intuit.com/small-business-taxes/

The Business Edition can only be installed on a Windows based personal computer, not on a Mac or online.  The Business Edition cannot complete a personal tax return, Form 1040.

[dlorand]

thank you! is the k1 1065 what is required for this type of situation or are there other options? and of course i have a mac and not a pc :( if i get the box edition then how do i file my personal? i would need to do a separate filing and pay for another version of TT?

[dlorand]

thank you! is the k1 1065 what is required for this type of situation or are there other options? and of course i have a mac and not a pc :( if i get the box edition then how do i file my personal? i would need to do a separate filing and pay for another version of TT?

[DoninGA]

The Schedule K-1 would be generated by the Partnership to be entered on a personal tax return.
Yes you will to purchase one of the personal editions of TurboTax for your personal tax return and to enter the Schedule K-1 -
Desktop editions - <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/cd-download/">https://turbotax.intuit.com/personal-taxes/...>
Online editions - <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/online/">https://turbotax.intuit.com/personal-taxes/onlin...>

Note - If you are going to use the online editions for your personal tax return then you will need either the Premier or Self-Employed editions as those two editions are the only online editions which support entry of a Schedule K-1.