When Turbotax Says "No Refund" When Filing My S-Corp Business, does that mean I won't have a refund on my personal taxes?
When Turbotax Business Says "No Refund" When I'm Filing My S-Corp Business tax, does that mean I won't have a refund on my personal taxes?
This is my first time using turbotax (have been using HR Block for many years). Everything is pretty much the same with my business as it has been and I have been getting a tax refund for many years. I normally get my s-corp business taxes done first, then my personal taxes are done (and I get my refund amount there).
I haven't submitted my business taxes yet as it is saying "You do not owe any taxes, but you are not due a refund". Does this mean that if I submit my business tax and then do my personal taxes, I will not be able to get a refund on my personal taxes like I normally do? Or does it show that message meaning that my actual business will not be getting a tax refund.
I've tried to research this and haven't found the answer. I had to pay to get the computer software version to do my own s-corp taxes so I'm hoping I can get this resolved so I can get my taxes finished up myself.
Any help will be greatly appreciated!!
Thanks!