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Returning Member
posted May 16, 2021 6:18:17 PM

Which version of TT do i need next year (ty2021).?

I do investing, stocks, bonds, etfs options, including publicly traded Partnerships (generating K-1's). This year I used H&B. next year I plan on starting a single member LLC for some contract work. Not sure yet if it will be a sole-proprietorship, a S-Corp, or an S-Corp treated as a sp.

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Expert Alumni
May 16, 2021 7:40:35 PM

If you have a single member LLC, and do not choose to be taxed as an S-Corp, you will need to file Schedule C with your personal tax return.  That will require TurboTax Self-Employed if you use the Online version, or Home and Business if you use the Desktop (CD/Download) version.  If you file as an S-Corp, you will need to use TurboTax Business for the S-Corp, which is a separate Desktop software program.  If you don't file Schedule C, you will need to use TurboTax Premier.