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January 11, 2024
Question

Can I use Home and Business to issue k-1?

  • January 11, 2024
  • 1 reply
  • 0 views
I need to know if I can you Home and Business to create and issue the K-1s?

1 reply

DoninGA
Employee
January 11, 2024

No, the Home & Business edition cannot be used to generate a Schedule K-1.  The Home & Business edition is one of the TurboTax personal editions.  It can be used only to enter a Schedule K-1 received.

 

To generate a Schedule K-1 you have to use the TurboTax Business edition which supports Form 1065, Form 1120, Form 1120S and Form 1041.  The Business Edition cannot be used for a personal tax return, Form 1040.  The Business Edition can only be installed on a Windows based personal computer, not online or on a Mac.

TurboTax website for the 2023 Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/