Question

Single Member LLC - S Corp - New York

Forum|Forum|6 years ago
January 17, 2020
2 replies
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Hi,

I am a single member LLC in New York , elected S-Corp for filing purposes.

Can Turbo Tax be used to file taxes?

If so, which Turbo Tax?

Does it also take care of personal?

Best,

Tanya

TurboTax

A

Anonymous_

Employee

If you made an S corporation election for your LLC, then you need to file a Form 1120-S.

TurboTax Business can be used to prepare a Form 1120-S but the program cannot be used to prepare a personal income tax return, such as a Form 1040. For the latter purpose you will need a TurboTax personal income tax preparation product, such as TurboTax Premier.

It should also be noted that TurboTax Business is not available as an Online product nor is there a Mac version; it must be installed and run in a Windows environment.

If this is your first year filing for your LLC with an S corporation election, you might want to seek professional guidance and/or return preparation so you get started off properly.

ReginaM

Yes, you can file both your business and personal returns using TurboTax. TurboTax Business is designed to help you prepare business returns including S Corporations.

There are several products to chose from for your personal return. This link will help you determine which product to use: TurboTax Personal.

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