Turbotax Business 2021
Paulette Dzurilla
Where is the feature to import 1099B transactions into TTax Business? I've imported data for many years into Turbotax personal versions, but now not seeing the option on TurboTax business. Now that I've gone through all the blank screen install hassles, I'm feeling pretty frustrated if you can't do the same import into Business! Hoping someone knows how to do this? Thanks in advance!
OK thanks for the clarification. Seems very short sighted, they already wrote the code and integration platform years ago. Why not include it in all products where importing basic income data might be needed.
I spent at least 10 hours researching and talking TT reps. For business there was no import feature as of last year. Not sure 2022. I tried to use trader=log software and that is difficult to use too.
Why isn't this available for MAC if all your other products cross both platforms. I've used Quickbooks for years and now when I am hoping to integrate all my business accounting and tax needs into one neat package, Intuit falls short.
Hey, Look guys/gals co-MAC users - I'm just a volunteer here so if you don't like the factual answer, your best choice is call Intuit or write and complain. Calling me names does nothing
When Apple introduced Lion and eliminated the direct function calls in to the O/S, the TurboTax BUSINESS product ceased to be compatible. They've never chosen to spend the funds on rewriting the product, nor have they made the product available online as an alternative.
TurboTax Business, when combined with a companion state-level business income tax form component for TurboTax costs somewhere around $120 (Target, Costco with coupon) plus state $60 (must from Intuit) - lowest total online $180. So, today you can purchase a cheap new Windows/10 based pc solely for the purpose of running TurboTax Business now and next year and that notebook will cost less!
Sorry for not being able to give a positive response.
For those who want to express their dissatisfaction with the situation, the place to file you complaint is directly with Intuit or in public media.
Yup. I'm on the section where I'm supposed to edit ownership percentage and it just skips that part. It even erased that value on the forms themselves. I was told by turbo tax it was a known bug. I'm asking if there is a work around or a fix coming soon?
I had my return finished when it forced me to update. The update broke this feature for me and erased my ownership percentages. If I edit existing ownership it skips that step. If I add a new owner it doesn't let me define their ownership.
Yes, I have that screen. And that eventually leads to the Member Summary screen. When you edit that it walks you through details and then right after the very last screen in this example, there USED to be a screen that let you edit the actual ownership percentages. And now that just doesn't ever come up. It just cycles straight back to the Member Summary.
Interesting. If I change business settings to specify that we ownership did NOT change during the year, THEN it lets me input the new ownership percentages. The opposite of what it should be. Hmmm . . .
They called me back and confirmed that it's a bug. Workaround is to click on the "Forms" option in the top-right of the screen and edit the values manually in the form itself. Hopefully they'll fix the bug soon.
I'm curious why others aren't seeing it. For the reference of others I'm on the Downloaded, Windows Desktop version of Business package with the 2/6/2020 update installed. And it was the update from two weeks ago that broke it for me.
I am curious as well because it works for me on my test returns either way (i.e., it does not matter whether I indicate the partnership had an ownership change or not - I can still change the percentages).
I am having the same problem, but also can't change the ownership percentage in the Forms. Don't know how it changed in the first place. There are 2 shareholders with 50/50 ownership and for some reason one changed to 100% while one stayed at 50% and I can't changed the 100% back to 50%.
You can change the ownership percentages by indicating there was an ownership change in the Business Info section (About Your Business), but that could create other issues. It would be better to wait for a fix.
The TurboTax Business Edition and the TurboTax personal desktop CD/Download editions for the same tax year can be installed on the same computer. The Business Edition cannot complete a personal tax return, Form 1040, so there is no interaction with an installed personal edition being used on same computer. And the personal editions cannot complete any of the Business Edition tax returns so there is no interaction with the Business Edition.
Attempted to install TT Deluxe after installing TT Business on my PC. Error message would not let me do that. Tried the other way around by installing Business after installing Deluxe. No luck either way. I see on the forum that I should be able to have both versions on my PC but it will not work. Any solutions?
Installed TT Business for Trusts first which worked as advertised. Tried to install TT Deluxe for personal taxes but was unable to install Deluxe without first removing Business. Spoke with TT rep who said I needed TT Home & Business and that would take care of problem. Same result. Could not install without first removing TT Business.
NO ... you do NOT need the Home & Business version ... and the Deluxe & Business will cohabitate on the same computer at the same time ... they have each and every other tax year ... so it could be a bug because the 2019 program is not fully functional so you may need to try again later ... the 2019 programs will not be fully functional until sometime in January and you cannot file until then either OR contact TT support again and ask for a manager who knows both can be installed at the same time.
What if I need TT Business to create a k-1 and TT Home and Business to file my 1040. Can I run the two business versions on the same PC? I could not in previous years. I don't have to have them open at the same time but I am concerned that if they are both installed I will still have a problem...
Yes, you can install and run both TurboTax Business and the Home & Business versions on the same computer. If you need to add a state, however, you must close both before you can install the state. Other updates that run at startup don't usually cause a problem.
In the "Partner/Membership Information" screens, even though the two partners are entered as 50% ownership and the result shows 100%, when "Continue" is pressed, a screen comes up saying "Total Percentage is less than 100%" with options to "Review Member Entries" or "Correct Later"
It will allow you to move forward if you select "Correct Later", but there is no where else to correct later, it will not get through the "Federal Review", and it will not file when you have completed.
Regardless, I cannot seem to reproduce your result during a test return. I suggest you enter Forms Mode and check your Schedule K-1 Worksheet (under Forms in My Return as Sch K-1 Wks) and review the entries on that worksheet.
I am also having this issue with a new business. I have entered all the partner's ownership percentages and I get the message "You have entered percentages totaling less than 100%. Before you can file your return the total percentage must equal 100%". Any idea? TurboTax on the previous screen says it all adds up right.
Nothing like posting to the forum to figure out the answer. Be sure to enter your percent of ownership as, for example, "50%", and not ".50%". My totals added up to 1, but that was only 1%, so according to TurboTax I was 99% short. Hopefully this will be a clue for the next person with this silly mistake!
In TurboTax Business, I purchased and downloaded the Virginia S-Corp state return. Now when I go to the State Taxes tab and click the Start button next to Virginia S Corporation, it takes me back to a purchase page. That page includes a box indicating I already bought Virginia S Corp. However, downloading again from there does not allow me to launch the state return.
Went back to my in-progress return, and situation remains the same. In the "buy states" dialog, it recognizes that I already bought VA S-Corp and offers to download again. But afterwards, the state return doesn't launch, just goes back into the purchase flow.
Same issue here. Turbotax Business 2023. Purchased State Partnership. Desktop App goes into an endless loop. Will not process the state return. Tried the special software to unload the state, then reinstall... Also tried unloading Turbotax Business, reboot and reinstall. Same issue. VERY IMPORTANT: The loop does not recognize the purchase, and will process the download as a purchase again and again. Net results: Can;t complete State return, therefore can't file 2023 Business fed or state taxes... and don't trust K1 report results for Turbotax Deluxe 1040 requirements.
Thanks for your reply. Pennsylvania state download is ready and downloaded without an issue. The issue with TT Business is loading the state for processing. When I select the button to begin the state return, I am returned to the download option, although TT business recognizes the State Partnership and State Corporation have been downloaded. The issue is twofold: (1) TT Business attempts to download again via the "charge for the State version" and (2) TT Business will not process the state version. As mentioned, I tried using the special TT state unload program and procedure (unload State version, restart PC, etc...). If that did not work, the procedure states to unload the entire program, restart and reload TT Business. Again, the same issue occurs. Finally, Intuit needs to not charge multiple times for a state download, which can happen without an error or notice.
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