Multi-member LLC Tax Solution?

searcher profile

April 29, 2021

by a searcher from Massachusetts Institute of Technology - MIT Sloan School of Management in Los Angeles, CA, USA

I will be operating a multi-member LLC, in which I will be the only member actively involved in running the business.. Would like to do Year 1 taxes myself (personal preference). What's the best solution for such entities? Is Turbo Tax for Business the best solution out there? I am also using QBO for accounting, would love to see if Intuit has developed a connector between QBO and Turbo Tax.

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commentor profile
Reply by a searcher
from University of Florida in Washington, DC, USA
Hi Sarim. I use QBO and have filed K1s and a 1065 myself for a multimember LLC using TurboTax. I was also unable to make the import from QBO into TurboTax... seemed that it had to be QB Desktop.

Edit: this was in February of 2021 for tax year 2020
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Reply by a professional
from Central Washington University in Everett, WA, USA
Yes, Turbotax does integrate with QBO so that you can upload your business information from QBO to Turbotax.
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