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Question

Multiple LLC'S

Forum|Forum|2 years ago
December 30, 2023
1 reply
0 views

Hi

I have a partner LLC that is holding LLC. Under it are 5 LLC's owned by the partner LLC. Can turbo tax help in this situation?

The parent partner LLC files the returns and issues K1 to me and my spouse.

The 5 LLC's own rental properties and are disregarded and pass their income/expenses to the parent LLC.

Is turbotax helpful in this?

If yes- What version- desktop or online?

Thanks for input.

You need Turbotax Business full windows PC - No MACs. no online 64 bit operating system windows 10 or 11.

see this link for system requirements

https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements

a printer is not required unless you are forced to mail in the return.

to purchase

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

other sites may offer the software at a lower price but be extremely wary of unknown sites since you may actually be purchasing malware.

thisisme271Author

Thank you. Will the following product work-

https://www.samsclub.com/p/intuit-turbotax-home-business-2023-tax-software-federal-and-state-returns/P03022857?xid=plp_product_4

or

https://www.samsclub.com/p/turbotax-business-federal-e-file-2023/P03022554?xid=plp_product_11

Employee

You need both the Business program and a personal program. The Home & Business program is only for personal 1040 returns that need help for Schedule C self employment sole proprietor freelance etc.

For you personal return you can use either the Online Premium version or any of the Desktop CD/Download programs.