Home & Business for LLC

Forum|Forum|2 years ago
January 24, 2024
1 reply
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Can I use the Home & Business for 2 LLC? or I need to purchase a license for each LLC?

TurboTax Home & Biz Windows

Vanessa A

Unless they are single member LLC's you cannot use TurboTax Home and Business to file the LLC returns. If they are not single member you would need to use TurboTax Business (not home and Business) to file a form 1065 partnership return. You can use it to file multiple returns.

If you do have a single member LLC, and you are the owner of both LLC's you can use TurboTax Home and Business to fill out Schedule C's for both LLC's. You would include them both on your individual return by entering the business info for the first then when completed click add another business.

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Carl11_2

Employee

TurboTax Home & Business *CAN* be used to complete a SCH C for a sole propritorship or *single* *member* LLC. If a multi-member LLC or higher, you'll need to use Turbotax Business, which is a completely different program.

Note that in some states that tax personal income, if the only members of the multi-member LLC are a married couple that will be filing a joint return, you "may" be able to file two SCH C's for each married member as a part of your 1040 personal tax return.