Which desktop version should I get?

[jkm88]

Hello, I have W2, rental properties, and a couple of K1s (1065 partnership).  Would TT Desktop Premiere suffice?  I don't need to upgrade to Home & Business right?  Thanks.

[VolvoGirl]

Premier will work.  Actually even Basic & Deluxe. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

[jkm88]

Thanks, @VolvoGirl!

The premiere desktop version should be able to guide me with 1065 K1s right?

[VolvoGirl · Accepted solution]

Of course!  You only need Home & Business if you have self employment on Schedule C.  You don't need to actually prepare the 1065 and K-1 do you?

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to Business items

Schedules K-1, Q - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

Enter each k-1 separately.

[jkm88]

Got it!

Yes, I don't need to prepare them. 

I expect to receive it K1 1065 forms from the partnership.  Then enter it in TT.  It should be pretty straightforward to enter K1s on TT right?  Kinda like entering W2 I imagine.