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Buyer's Guide - If you need to file a return for a corporation

If so, the type of return you should file depends on whether your corporation is an S corporation. An S corporation is a corporation for which you, your accountant, or your attorney filed "an S election" with Form 2553 at any time in the past. This election changes the way your corporation is taxed; instead of being subject to corporate income tax rates, the income from your S corporation is taxed on your personal return and is reported to you on Schedule K-1 for Form 1120S.

If Form 2553 wasn't filed, your corporation is taxed as a regular corporation.

Do you need to file a tax return for an S corporation?

TurboTax Business includes Form 1120S and all necessary forms and schedules needed to file a return for your S corporation. Your Schedule K-1 forms will be generated for you automatically.

We first profile your business by asking you a series of questions about the type of business you have, whether you have employees, and other background information. We then tailor our award-winning interview to fit your business so you don't have to answer questions that aren't applicable to you.

TurboTax Business also includes the W-2 / 1099 Reporter, which helps you prepare W-2 and 1099-MISC forms for your employees and contract workers.

Need to file a state S corporation return too?

TurboTax Business State includes forms for nearly all states that require an S corporation return to be filed. 

Do you need to file a tax return for a regular corporation?

The most common corporations are called "C" corporations, which pay income taxes on their profits separate from the individuals who own them. Corporations that have not elected to be S corporations, and some LLCs, fall into this category.

Use TurboTax Business to file Form 1120 for your corporation.

TurboTax Business also includes the W-2 / 1099 Reporter, which helps you prepare W-2 and 1099-MISC forms for your employees and contract workers.

Need to file a state corporation return too?

TurboTax Business State includes forms for nearly all states that require a corporation return to be filed. 

What about your personal income tax return?

You'll also need to file your own Form 1040, which isn't included in TurboTax Business. Review our recommendations for which personal TurboTax product to buy based on your personal financial situation.

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