Note that if you have absolutely no accounting or income tax preparation experience with respect to entities, you might want to seek professional guidance. Further, TurboTax Business is not available as an online product it must be installed and run in a Windows environment (there is no Mac version). TurboTax Business cannot be used to prepare your individual income tax return so you will need a personal income tax preparation product. Items of international tax relevance are very broadly defined. Income Tax Return for an S Corporation, and Form 8865 that have cross-border activities, investments, owners, or income may need to file Forms K-2 and K-3 in the upcoming year. Otherwise, the LLC will have to file a Form 1065 and the TurboTax product that is capable of preparing a 1065 is TurboTax Business (link below). Return of Partnership Income, Form 1120-S, U.S. ![]() If that is the case, you can use TurboTax Self-Employed through the TurboTax web site (i.e., you can prepare your return online). If you and your wife hold your interests in the LLC as community property in a community property state, then you can treat the LLC as a disregarded entity and each of you can file a Schedule C (Form 1040) according to your interests in the LLC.
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