Question

Can I use Turbo Tax Premier or do I need to upgrade to Turbo Tax Business? I was added to a multi partner LLC on 12/31/23 and 2024 is the first yea receiving a K-1.

Forum|Forum|1 year ago
February 15, 2025
1 reply
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My mother created the LLC in 2015, but has expanded it by adding us 4 kids.

If you just receive a K-1 you can use any Desktop version. If you use Online you will need the Premium version to enter a K-1. You only need Turbo Tax Business to actually prepare the 1065 or 1120 tax return. Don't confuse the Desktop Home & Business program with the stand alone Business program. H&B is only for personal returns that need schedule C for self employment.