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How to prepare LLC's return with ProSeries Basic

Jul21720
Level 3

I have been asked to prepare tax return for an LLC entity, the problem; Pro Series Basic doesn't handle LLCs, how can I comply with this request?

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IRonMaN
Level 15

A single member LLC is treated as a schedule C which I'm pretty sure Basic handles.  If you are talking in terms of a multiple member LLC, you can use the Professional version on a pay per return basis to prepare a 1065 or 1120S.


Slava Ukraini!

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5 Comments 5
abctax55
Level 15

1) upgrade your software?  (or, see if you can use PS Professional on a pay-by-return basis) 

2) decline the engagement?

"*******Tax software is no substitute for a professional tax preparer*******
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IRonMaN
Level 15

A single member LLC is treated as a schedule C which I'm pretty sure Basic handles.  If you are talking in terms of a multiple member LLC, you can use the Professional version on a pay per return basis to prepare a 1065 or 1120S.


Slava Ukraini!
Just-Lisa-Now-
Level 15
Level 15

What kind of LLC?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Jul21720
Level 3

Thanks! How do I get the professional version on a pay per return basis to prepare a 1065 or 1120S ?

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Just-Lisa-Now-
Level 15
Level 15

You should be able to Log into your Online Intuit Account and download Professional from there.

https://www.intuit.com/sign-in/

Scroll down to ProSeries and then log in....choose the 'Previous Years' hyperlink on your dashboard to see what's available to download.  If Professional isnt listed, you may need to call in.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪