DIY Products

DIY Products

Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.

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Pioneer
Posts: 2
Registered: ‎01-05-2018

Premium + Business, what all can we file?

My fiancee and I have a small business through a partnership. I'm considering getting the Premium+Business software.

I know we'll have the 1065 for Federal to file, and the equivalent for the State of Pennsylvania.

We also will both have personal and state returns.

Will this software allow me to file all of these? Specifically, will it allow me to file my state business return and both of our state personal returns with the one included state program?

Does this software also generate the K-1 forms we need for our personal returns?

Thank you!
Tax Pro
Posts: 6,071
Registered: ‎02-23-2016

Re: Premium + Business, what all can we file?

Hi ChaosCupcakes,

 

 

 

Welcome to the H&R Block community.

 

The premium + business software will do the 1065 for a partnership and it will do your individual returns.  You get five federal returns with all versions of the software.  However, because you have more than one state tax return it will cost extra for the second state return.  The state business return may cost you extra as well.  I am not 100% positive on that one, but I do know that the "one state return included" is 1 individual state tax return.  If you were a sole proprietor then the business would be included with your individual return on a Schedule C and you wouldn't have a separate return for the business at the federal or state level, but with a partnership that is different.

 

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)

Pioneer
Posts: 2
Registered: ‎01-05-2018

Re: Premium + Business, what all can we file?

Will the business software generate the K-1 forms I'll need to input on our personal returns?
Highlighted
Associate (Pioneer)
Posts: 18
Registered: ‎01-20-2015

Re: Premium + Business, what all can we file?

Yes, it will.  The Premium + Business is actually two separate programs.  The Premium is the same Premium that you get when you buy the standalone Premium version.  As Louis mentioned, you get 5 free federal efiled personal returns.  Each personal state return is an extra charge to efile.  If you print and mail the state return, you won't have this additional charge. 

 

The Business portion of the package will do your 1065, plus the K-1s for each partner.  Assuming nothing changed since last year, you will also get unlimited state business returns at no additional charge.