Solved: 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?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

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?

 
1 Best answer

Accepted Solutions
Level 15

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?

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.

View solution in original post

4 Replies
Level 15

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?

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.

View solution in original post

New Member

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?

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?
New Member

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?

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?
Level 15

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?

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.
Dynamic Ads
v
Privacy Settings