After doing Desktop Business edition I need to do my personal taxes and was wondering if I should do a desktop or online version and which version would be best as I have a K1 from my single owner S corp to me? I have done personal taxes with the online version in the past and wondering if I should now use the desktop.
Its mostly personal preference as to whether you prefer the increased functionality of the desktop program (such as Forms Mode) or if you prefer the convenience of the online (i.e being able to work on your return anywhere and having TurboTax store your files). If you liked working with the desktop Business program, then you will probably like working with the desktop personal program.
Both versions can easily handle a K-1 entry. But, with the desktop program, you can actually enter a K-1 in the Deluxe program; whereas, you will need TurboTax Premier with the online program. So, you would probably save money by going with the desktop Deluxe program. (Of course, if you have other investment income or another business, you might want to upgrade to a higher version in the desktop if you feel you need extra guidance. But, the forms themselves are all available in Deluxe.)
If you decide to switch to the desktop for your personal taxes, let me know and I can give you further instructions on how to transfer your 2015 online file so you can jumpstart your 2016 return in the desktop program.
Its mostly personal preference as to whether you prefer the increased functionality of the desktop program (such as Forms Mode) or if you prefer the convenience of the online (i.e being able to work on your return anywhere and having TurboTax store your files). If you liked working with the desktop Business program, then you will probably like working with the desktop personal program.
Both versions can easily handle a K-1 entry. But, with the desktop program, you can actually enter a K-1 in the Deluxe program; whereas, you will need TurboTax Premier with the online program. So, you would probably save money by going with the desktop Deluxe program. (Of course, if you have other investment income or another business, you might want to upgrade to a higher version in the desktop if you feel you need extra guidance. But, the forms themselves are all available in Deluxe.)
If you decide to switch to the desktop for your personal taxes, let me know and I can give you further instructions on how to transfer your 2015 online file so you can jumpstart your 2016 return in the desktop program.
Great, thanks Anthony I will be in touch. This is my first year having my PLLC taxed as an S-corp so do I need to do self employment personal taxes or just regular employee taxes with my W-2 from my single owner S-corp? The only other income I have is distributions from the S-corp and rental income from a property that I own. Thanks!