Tax preparation checklist for TurboTax Expert Assist Business
As a business owner, preparing your taxes can seem daunting. But with a bit of preparation, the process can become a lot easier.
TurboTax Expert Assist Business handles:
Single-member LLCs
Sole proprietorships
S corporations Form 1120-S
Partnerships or multi-member LLCs - Form 1065, and
1099s and W-2s through Quick Employer Forms in TurboTax
An individual partner or shareholder is also required to file an individual tax return Form 1040, where they report the income allocated to them by the “pass-through” entity on the Schedule K-1 they receive.
For C corporations - Form 1120, or certain Estates or Trusts - Form 1041, use TurboTax Desktop Business.
Note: “Pass-through” Businesses (e.g., S corporations, partnerships, multi-member LLCs) with a December 31 year-end have an income tax filing due date of March 15, whereas a single-member LLC/sole proprietor or C corporation have an income tax filing due date of April 15.
If you think you might not complete and file your business tax return by the due date, go straight to step 3 of the section titled "Prepare your tax return in TurboTax Expert Assist Business" to get an extension.
Even if you paid personal estimated taxes during (or after) the tax year and have obtained a filing extension, payment of any final taxes owed (may be estimated) is still due by the original return due date.
Returns filed after the due date (or extended due date, if applicable), and late payments (regardless of any filing extension) can be subject to interest and penalties.
If you paid contractors, the due date for filing Form 1099-NEC and Form 1096 is February 2, 2026 (you can request a 30-day extension (not an automatic extension) by filing Form 8809 on or before the due date). Similarly, if you paid employees, the payroll forms (e.g., Forms 940, 941 (4th quarter), W-2, W-3, etc.) are also due February 2, 2026 (here again, you can request a 30-day extension (not an automatic extension) by filing Form 8809 on or before the due date).
Tax preparation checklist
Complete your year-end bookkeeping. If using QuickBooks:
Automatically download all of your sales and expenses into QuickBooks Self-Employed. See: Set up bank rules to categorize online banking transactions in QuickBooks Online.
Gather all receipts, documents, and reports (paper or digital):
These may only be necessary when you’re starting your business and filing your income tax return for the first time.
Articles of Organization, including amendments
Federal Employer ID Number (EIN) from IRS Letter CP-575
Operating agreement, if applicable
S Corporations - Form 1120-S: Proof of S Corp election effective date (Approval Letter CP261 or Verification Letter 385C)
State registration number
Income, expenses, depreciable property, loans and other credit, dividends, or other shareholder distributions or loans.
Follow Upload your receipts to QuickBooks Online to record and categorize the transactions not already captured by step B.
Reconcile your bank account and other accounts in QuickBooks.
Make any required adjusting journal entries.
Run your year-end reports, in particular, the income statement and the balance sheet.
Transfer your QuickBooks info toTurboTax Business.
Prepare your tax return in TurboTax Expert Assist Business
If you are new to TurboTax Expert Assist Business, have your prior-year tax return on hand for reference.
If you are returning to TurboTax Expert Assist Business, it will find and use last year’s tax return data to give you a head start.
When you are at the introductory TurboTax Expert Assist Business screen, we’ll start gathering your business info. TurboTax will ask you whether you need to file an extension. If you do, select File extension, and follow the steps.
Follow the steps in TurboTax Expert Assist Business to prepare the return. TurboTax Business may ask about additional considerations like:
Vehicle loan interest
Other vehicle expenses
Home office expenses
Interest paid
