Question

Which Version(s) do I need for my situation?

Forum|Forum|4 years ago
March 18, 2022
1 reply
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Hi All,

I have both a single-member LLC and a multi-member LLC, and I'm unsure which version or versions of TurboTax I need to file for both and my personal taxes correctly. From my understanding, there is a Home & Business version available. Is that version enough for both the LLCs and the personal taxes, or will I have to get the Home & Business version and the Business version so that I can file all three properly?

Thanks in advance for the help.

T

ThomasM125

You will need both Home and Business and the Business software. You use the Home and Business to file your single member LLC as a sole proprietor, and the Business TurboTax product to file your partnership form 1065 for the multi-member LLC.

Once you complete the partnership return form 1065 using the TurboTax Business product, you will have generated a K-1 schedule that you will enter on your personal tax return, prepared with the Home and Business TurboTax product.

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