Does TurboTax primer include TurboTax Self Employed if I sign up for live full service? I started an LLC this past year.

Forum|Forum|3 years ago
March 28, 2023
1 reply
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Considering the expenses for the start up provisions do the accountants do pass thru taxation on W2 and apply deductions against all income to get the most tax benefit?

TurboTax Online

DavidD66

If you started an LLC last year, and you are the only member, then your LLC is considered a "disregarded entity" by the IRS unless you elected S-Corp status by filing Form 2553. As a disregarded entity you are "self-employed" as far as your business is concerned. You file your business income and expenses on Schedule C as part of your personal tax return. TurboTax Premier does allow you to file Schedule C to report income, but if you have expenses to report you would have to use the Self-Employed version. If you did elect S-Corp status, or intend to file Form 2553 with your tax return to make the election, you will have to file Form 1120-S, which requires TurboTax Business. TurboTax Live Premier does not include self-employment. For more information on TurboTax Live click on the following links:

TurboTax Live - Full Service

TurboTax Live - Assisted

TurboTax Live - Business

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