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With TT Home & Business: Can I:

Forum|Forum|4 years ago
January 4, 2022
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I don't know where else to ask this question so...

With TT Home & Business will I be able to :

Create Schedule K1
Create and file W2's with the IRS
Complete my personal tax return

Over the last several years I have been purchasing TT Premier to complete my personal tax return and purchasing TT Business to complete my LLC (S-Corp) return. This year I discovered the TT Home & Business. If I were to go with TT Home & Business for 2021's returns, what features / activities would I NOT be getting verses using the same pair of TT products that I have been using? If I were to use TT Home & Business would I have the same features / activities available as I would if I were to use the same pair of TT products as I have been using? Thank you

Best answer by Opus 17

TurboTax Home and Business only adds the ability to prepare a schedule C. In fact, if you use the desktop version of Premier, you can prepare a schedule C without upgrading; the H and B version has more built in guidance but the basic functionality is still contained in the Premier version.

Only the Business program can prepare a partnership return 1065 or an S Corp. return 1120 with the associated K-1 statements.

O

Opus 17Answer

Employee

TurboTax Home and Business only adds the ability to prepare a schedule C. In fact, if you use the desktop version of Premier, you can prepare a schedule C without upgrading; the H and B version has more built in guidance but the basic functionality is still contained in the Premier version.

Only the Business program can prepare a partnership return 1065 or an S Corp. return 1120 with the associated K-1 statements.