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Which TurboTax do I need to file if I am a part of a two person LLC but also have a separate personal income from a W2?
This is my first year filing with a two person LLC. I am unsure how to file and which TurboTax to use.
As a multi-member LLC (including two-member LLCs run by spouses) will need to use TurboTax Business to prepare and file Form 1065 (U.S. Return of Partnership Income).
Only one return for the partnership is necessary. The partnership
through the return will issue reporting statements (K1) to each of the
partners. You will use those K1s when you each file your individual 1040
returns.
TurboTax Business (Windows only) contains everything you'll need to prepare Form 1065 and the associated Schedule K-1 forms.
It also lets you prepare W-2 and 1099 forms for employees and contractors that work for your LLC.
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