When filling a schedule C through turbotax home and business what do I put if the business in owned by an entity and not an individual?

[melisty]

I was told that I needed to file my business taxes with Turbo Tax Home and Business. The business is technically a sole proprietor LLC, but it it owned by an entity and not an individual. 

I don't know what I am supposed to put for the personal information because it's not a person. I have already filed my personal taxes. 

How will the IRS know this is an entity and not individual owned? 

[DoninGA]

What type of entity is the business?  A S Corporation, a C Corporation, a Partnership?

Did you file incorporations paperwork with your state?  If so, you should know the type of entity.

[VolvoGirl]

You might need Turbo Tax Business which is a separate program from the personal  Home&Business program.   If you need to file a separate Business return like for a 1065 Partnership or LLC or a 1120 including a Single Member LLC - S corp or a 1041 Estate/Trust return you need Turbo Tax Business in addition to a personal tax program.

TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes/cd-download

[melisty]

Hi, I do have TurboTax business. I was filing the taxes with it and it told me I need to use TurboTax home and business since it's a sole proprietorship. 

[melisty]

It is a C corp LLC. 

[DoninGA]

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@melisty wrote:

It is a C corp LLC. 

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A C Corporation files a Form 1120.  The Form 1120 is only available using the TurboTax Business Edition.  Whomever told you to use the Home & Business personal edition was grossly mistaken.

[melisty]

Understood, it was TurboTax business software that said I was using the wrong one. I will use the Business software again. 

Thanks for your help!

[melisty]

I misspoke. We are a partnership, not a C corp. Would I still use TurboTax business?

[dmertz]

Yes, you still need TurboTax Business to prepare a partnership's income tax return.  TurboTax business will prepare Form 1065.

And just to be clear, a partnership is not a sole proprietorship.  Only an individual can have a sole proprietorship.  Also, it's a partnership only if there is more than one partner (which seems to be the case because you mentioned "we" have a partnership).  If what you have instead is a single-member LLC, it's a sole proprietorship and the LLC is a disregarded entity for the purpose of an income tax return.  A sole proprietorship reports on Schedule C of Form 1040.