in article 930bd74c-eecc-4c34-b777-dbdd9a2eb0ca...oglegroups.com,
20vtguy at 20vtguy[at]gmail.com wrote on 3/16/09 11:37 PM:

- quote -

The business would file a 1065 partnership return to report the income and
expenses and the partnership would issue K-1s to each of the partners for
entry on their personal returns. The partnership would not pay tax.

I have not used TurboTax Business in several years but as I recall, it can
do Form 1065 quite well. The catch is that it is over $100. If I do it in
ProSeries as pay for return, the software fee is $30 and $3 for E-file. I
only do a few of these so I don't license the software.
Uncompensated advice guaranteed correct or double your money back

Frank S. Duke, Jr. CPA
Cincinnati, OH USA

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I am currently a self-employed computer technician. I file my taxes as
a sole proprietor using Turbotax Home and Business and have been for
the last few years. I like it and its easy.
In 2008 I also got involved in a small vending business with a friend
placing small candy machines at locations. We registered the business
as a general partnership. We have not really gotten it off the ground
yet and only grossed about $1000 last year and after expenses we will
likely be negative. Wanted to know the best way to file our taxes for
that business. I considered using Turbotax Business which is for Corps
and Partnerships. Is that good way to do it or would I be better off
using an accountant for the partnership business. Is there anything
special I should be aware of in respect to taxes and a general
partnership or is it pretty straightforward?

Thanks in advance,
Adam

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >