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Hi,
I'm trying to determine the best version of Turbo Tax for my situation.
I receive a 1099-NEC each year in my name since the paying corp cannot pay a Corporation, so I then move those funds from my personal account into an LLC sub S, where I'm the only owner and employee on payroll. I can see my CPA files 1120-S and K1 for the LLC, which flow over to my personal where they file a 1040, and Schedules C and E since I also own a rental property that is in my name, no corp.
Turbo Tax Home & Business looks like the best option, but I'd rather not download any programs and do it online, but I do not seean online version of H&B?
Thanks for your help.
Scott
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If you want to use online instead of the Cd/download, then you are going to want the new online version called Premium. Premium has replaced "Self-Employed". Online software will be available in early December.
First of all Turbo Tax Business and the Home & Business programs are separate programs. Home & Business only does personal 1040 returns that need schedule C for self employment. To do a LLC sub S return you need TT Business which is only available for Windows Desktop, not online or Mac.
The Online versions for personal returns will open in a couple weeks, keep checking back. You will need to use Premium to enter a K-1, rental income and schedule C. Premium would be the Online version of the Desktop Home & Business program. But if you need to prepare the 1065 LLC you also need the Desktop Business program.
Actually all the personal Desktop programs have all the same forms so you could buy a lower version like Deluxe. You just get more help in the higher versions.
Great, thank you. So it looks like I need two versions. The Home & Business naming threw me off as it seems like one program for both, which I guess it is but only for non-corp entities.
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