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June 1, 2019
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For personal, c corporation and llc which turbotax product I should use?

  • June 1, 2019
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Best answer by Anonymous_

You would need TurboTax Business to prepare an 1120 for the C corporation and a 1065 for the LLC (assuming it is a multi-member LLC). TurboTax Business must be installed in a Windows environment; it is not available online nor will it run natively on a Mac. See https://turbotax.intuit.com/small-business-taxes/

You will also need a TurboTax personal tax preparation product. In order to enter information from a K-1 generated by a 1065, you would need to use TurboTax Premier or Self-Employed if using an online version or any desktop (CD/Download) version.

1 reply

Employee
June 1, 2019

You would need TurboTax Business to prepare an 1120 for the C corporation and a 1065 for the LLC (assuming it is a multi-member LLC). TurboTax Business must be installed in a Windows environment; it is not available online nor will it run natively on a Mac. See https://turbotax.intuit.com/small-business-taxes/

You will also need a TurboTax personal tax preparation product. In order to enter information from a K-1 generated by a 1065, you would need to use TurboTax Premier or Self-Employed if using an online version or any desktop (CD/Download) version.

dev1Author
June 1, 2019
Thanks @tagteam. How do report profit/loss from C corporation on personal tax?