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June 5, 2019
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My wife and I own a partnership business. Which turbo tax software should I buy?

  • June 5, 2019
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    Best answer by DS30

    If you and your wife are partners (owners) of a partnership, then you will need to be report this partnership's income and expenses on a separate federal income tax return (Form 1065). You will need TurboTax Business and you can purchase a downloadable copy here

    You will need to include your K-1 from this partnership with your individual US federal income tax return. For your personal tax return, you can start with the TurboTax Free online and TurboTax will prompt you to upgrade based on your particular situation. (All data will transfer automatically to the new upgraded version.)

    If you are buying a desktop versions, you will want to use TurboTax Premier.

    1 reply

    DS30Answer
    Employee
    June 5, 2019

    If you and your wife are partners (owners) of a partnership, then you will need to be report this partnership's income and expenses on a separate federal income tax return (Form 1065). You will need TurboTax Business and you can purchase a downloadable copy here

    You will need to include your K-1 from this partnership with your individual US federal income tax return. For your personal tax return, you can start with the TurboTax Free online and TurboTax will prompt you to upgrade based on your particular situation. (All data will transfer automatically to the new upgraded version.)

    If you are buying a desktop versions, you will want to use TurboTax Premier.

    paul19Author
    June 5, 2019
    Which individual turbo tax software should I use?