"we" are self employed? If the business is owned by more than one person and has NOT elected to be treated "like an S-Corp" for tax purposes, then the business income/expenses needs to be reported on a 1065 Partnership return. If S-corp status was elected, it needs to be reported on an 1120-S corporate return.
For either you need TurboTax Business (different from Home & Business). You need to complete and file the business return before you can even start the personal return. The business will issue at least a K-1 (and a W-2 if an S-Corp) to the owners, which will be needed for your personal tax return. Even if the owners are married to each other and filing a joint return, the K-1 ensures each owner is properly credited on their Social Security accounts.
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/">https://turbotax.intuit.com/small-business-taxes/</a>
You can probably get TurboTax Business cheaper if you buy it over the counter at a local authorized reseller.
TT Business is not available as an online product, or for MACs.
You will need 2 separate programs ...
To prepare a corporate, trust or partnership return you would need Turbotax Business. This is a separate program from Turbotax Home and Business or the Online Self Employment version. TT Business is a program only available for desktop windows use (there is no on-line or Mac version.)
http://turbotax.intuit.com/small-business-taxes/
https://turbotax.intuit.com/small-business-taxes/forms-business.jsp
https://ttlc.intuit.com/questions/1917225-is-turbotax-business-right-for-me
To prepare a personal return, depending on the complexity, you will need a version that prepares Forms 1040 such as Deluxe, Premier, Home and Business, etc. If you have a Schedule K-1 from either a Form 1120-S, Form 1065 or Form 1041 you will need either the Premier version or (if you also have an unincorporated business) the Home and Business version when using the online program.
All the 2017 downloaded programs will handle the personal return.
View
this product guide chart to see which product is best for you:
https://turbotax.intuit.com/lp/ty14/desktop/lp1.jsp#irs-forms
It may be a husband/wife LLC, so we need to know the state.
You will file a partnership return form 1065. Next time you ask a question on this business don't say LLC say partnership.
Thank you Critter#2, it is husband, wife and daughter. So you are saying we need business turbo tax and once that is done we will need the home and business turbo tax, correct?
No ... unless you have another unincorporated business you do not need the H & B ... any of the downloaded versions will do ... Basic doesn't have a state return which you don't need in FL.
If you were required to file anything with the state in the way of a tax return (and I doubt you are) you'd be filing a DR-405 to report the value of any tangible personal property and you'd be taxed by the state on the value of said property. A vehicle is not tangible personal property in your case, any way you look at it.
You are saying we need to do the business turbo tax and then just the basic for our personal?
OP asked from TT Online, which is why I answered as I did.