TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

How do I prepare a Form 1065 in TurboTax Home & Business edition?

Forum|Forum|6 years ago
June 6, 2019
3 replies
0 views

I need to prepare a Form 1065 for an LLC created in 2015, so that the K-1 will be produced to carry over to the 1040.

TurboTax Home & Biz Windows

Employee

"How do I prepare a Form 1065 in TurboTax Home & Business edition?"

You will not be able to prepare a Form 1065 with TurboTax Home & Business; the product is not capable of preparing an income tax return for an entity, such as a multi-member LLC.

Rather, you need TurboTax Business (link below), which is a different product than TurboTax Home & Business. Note, however, that you will also need a personal income tax preparation product since TurboTax Business is not capable of preparing individual income tax returns.

https://turbotax.intuit.com/small-business-taxes/

So why on the "Forms" section for the Home & Business product does it list Form 1065????

https://turbotax.intuit.com/personal-taxes/cd-download/home-and-business.jsp#tax-forms

Employee

@cetanorak wrote:

So why on the "Forms" section for the Home & Business product does it list Form 1065????

https://turbotax.intuit.com/personal-taxes/cd-download/home-and-business.jsp#tax-forms

There is NOT a Form 1065 listed in the Home & Business edition.

There is a Schedules K-1 (Form 1065). A Schedule K-1 from a partnership tax return Form 1065, is not a Form 1065.

TurboTax is a joke. Why the hell would Home and Business NOT include every feature TT Business includes? Absolutely ridiculous. Just found this out this morning as I am trying to file a Form 1065 for the first time. TT is garbage.

can I use home and business software for single LLC form 1065

Employee

@vickydo2075 What kind of LLC? Are you a Single Member LLC? If you need to prepare a 1065 business return you need Turbo Tax Business.

Turbo Tax Business is a separate program from Home & Business. TT Business is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns. Not for self employed independent contractors. Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's version here. And you can have both TT Business and TT Home & Business (or any personal version) installed on your computer at the same time.

You can buy the Window's version here…..

https://turbotax.intuit.com/small-business-taxes