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Can I use TurboTax for S Corp?

TurboTax Business will prepare an S-Corp return (Form 1120S) along with Partnerships (Form 1065) and Estates and Trusts (Form 1041); Self-Employed will only handle personal returns and is limited (on the business side) to preparing Schedule C and single member LLCs filing a Schedule C as a disregarded entity.

How do I file an S corporation tax return?

How to file taxes as an S corporation Prepare your financial statements. One of the first things your tax professional will ask for are financial statements. Issue Forms W-2. Prepare information return Form 1120-S. Distribute Schedules K-1. File Form 1040.

Can you file state taxes with TaxACT?

You can prepare a state tax return in TaxACT desktop software or TaxACT Online. Most of the information required for your state return is entered in the Federal QA and flows to the state return. The State QA then prompts you for additional information specific to your state.

Can I file my own S Corp tax return?

TL;DR: Yes, you have every right to do your own S-Corporation tax return, but we really dont recommend it. The amount of time youd spend researching all the rules and regulations could better be spent doing what you do best and leaving the nitty-gritty to tax professionals like us!