Turbo Tax Business - Sale of shares???

[pp88]

Hi, I've got a question about Turbo Tax Business and the sale of shares.

For reasons I won't go into now, I owe returns for the last several years for my very small S-Corp. My brother, who took care of all of this stuff, left the company three years ago and sold me his half of the shares (this happened in the middle of the year).

I was wondering if someone could tell me if Turbo Tax Business has a provision in it for this sale. Also, just how complicated does this sale make things as far as satisfying the IRS and generating K-1s.

Thanks all.

[Dalen]

Taxcut does. Let me see if I have an old copy of Turbotax business around here to test.

[pp88]

Originally Posted by eightmanagement

Taxcut does. Let me see if I have an old copy of Turbotax business around here to test.

Thanks Joshua, that would be great!

That brings up a new question. What's considered the better (easier/more intuitive) business program Turbo Tax or Tax Cut? And does that hold true for 2001 version?

Thanks.

Adam

[Dalen]

I've been using TaxCut for the past several years, only because of price. At this point, I'm pretty fed up with it. I would recommend to Joe Taxpayer to pick the cheaper of the two, unless your have a complicated return .... as you do. TurboTax is much more refined and augmented, mainly due to the Intuit stable of products.

Bottom line, I'd recommend picking up a version of TurboTax home and business ... see if you can get 2001 & 2002 off of eBay.