I opened an LLC in 2022. Do I need to create a separate Turbotax account to file?

Forum|Forum|3 years ago
April 6, 2023
2 replies
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I share this LLC with a business partner and we each have our individual Turbotax account for our personal taxes. Can I use my account that I use to file my personal taxes to file my LLC taxes?

TurboTax Online

VolvoGirl

Employee

No. And you are suppose to do the LLC return first to get the K-1 to enter into your personal return.

You need Turbo Tax Business. It is a separate program from Home & Business. It is not available to do online or on a Mac. And it will not do your personal 1040 return.

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

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

mariarebollarAuthor

Thank you! That was very helpful. I haven't filed my personal taxes because I understand I need to file my LLC first in order to receive the K1.

DoninGA

Employee

If you have a multi-member LLC then you will need to file a Partnership tax return, Form 1065.

A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and elects to be treated as a corporation

A Form 1065 can only be completed and filed using the TurboTax Business Edition - https://turbotax.intuit.com/small-business-taxes/

The Business Edition can only be installed on a Windows based personal computer, not online or on a Mac.

The Business Edition cannot be used for a personal tax return, Form 1040.