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Returning Member
posted Feb 7, 2020 5:20:57 AM

Which version of Turbo Tax do I need ?

I need to do my personal income tax and will be getting the usual 1099's but  will also be getting K-1's from participation in  master limited partnerships and I have rental property that is managed thru  my own single member LLC.     No state tax since I reside in Florida.  What version of turbo tax will I need to support this ?        Thanks ! 

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3 Replies
Expert Alumni
Feb 7, 2020 5:47:25 AM

If you sold investments, received a K-1, own rental property, or refinanced your mortgage, then TurboTax Premier is right for you! You can also get CPA or EA advice along the way and a final review of your return before filing with TurboTax Live Premier.

 

Premier has the extra guidance you need to accurately report your cost basis and investment income, rental depreciation, and refinance-related expenses. Learn what else TurboTax Premier and TurboTax Live Premier have to offer. Source: Is TurboTax Premier Online right for me?

 

Note: The higher the version, the more step-by-step guidance you'll receive. 

 

Related information: What's the difference between TurboTax Online and the TurboTax CD/Download?

Returning Member
Feb 7, 2020 6:30:25 AM

Thanks !   So Premier has support for the Single Member LLC and Schedule c ? 

Expert Alumni
Feb 7, 2020 7:08:28 AM

You will need either the Self-Employed or Home and Business programs to include a Schedule C with expenses.