Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
ldpuri
New Member

I have an incorporated business and wanted to know if I need to do my taxes using the turbo tax home and business version?

All I want to do right now is file my personal income tax. Should I use the premier product to do my income tax and then separately file the business income tax?

1 Best answer

Accepted Solutions

I have an incorporated business and wanted to know if I need to do my taxes using the turbo tax home and business version?

The business income tax must be filed separately using the appropriate T2 return.  Home and business is still for sole proprietorships.  If the company pays you management fees, you will require home and business.  If your company pays you dividends, you can probably use premier, and if your company pays you wages and issues you a T4, you can probably use standard.  If you have no idea what I'm talking about, please see an accountant.

View solution in original post

1 Reply

I have an incorporated business and wanted to know if I need to do my taxes using the turbo tax home and business version?

The business income tax must be filed separately using the appropriate T2 return.  Home and business is still for sole proprietorships.  If the company pays you management fees, you will require home and business.  If your company pays you dividends, you can probably use premier, and if your company pays you wages and issues you a T4, you can probably use standard.  If you have no idea what I'm talking about, please see an accountant.