Question

LLC creating K1, 1099 and filing personal taxes

Forum|Forum|1 year ago
January 15, 2025
1 reply
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I am part owner of a 2-member LLC. (partnership)

Which version of TurboTax will allow me to create K1s and 1099s?

Which version of TurboTax will allow me to complete my personal tax return using the K1 I created?

I am hoping I only need to purchase 1 version, but need guidance.

DoninGA

Employee

To complete and file a Partnership tax return, Form 1065, and create the Schedule K-1 for the partnership you would have to purchase the TurboTax Business Edition. 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 to complete a personal tax return, Form 1040.

Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/

To complete a personal tax return and enter the Schedule K-1 using the TurboTax online editions, you would need to use the Premium online edition - https://turbotax.intuit.com/personal-taxes/online/premium/

To complete a personal tax return and enter the Schedule K-1 using the TurboTax desktop editions, any of the desktop editions can be used - https://turbotax.intuit.com/personal-taxes/cd-download/