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TurboTax Business Federal + E-File 2012 for PC [Download]

by Intuit
3.5 out of 5 stars  See all reviews (152 customer reviews) 6 answered questions

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Price: $149.99
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Platform: PC Download
PC Download
Download size:
114 MB
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1 - 10 minutes on broadband, 5 hours on dial-up
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  • Provides extra step-by-step guidance to help ensure accuracy and maximize business deductions
  • Identifies industry specific deductions and simplifies asset depreciation
  • Creates W-2 and 1099-MISC forms for your employees and contractors
  • Expert help when you need it, free
  • Includes Audit alerts and Free Federal E-File
There is a newer model of this item:
TurboTax Business Fed + Efile 2013 [Download] TurboTax Business Fed + Efile 2013 [Download] 3.4 out of 5 stars (170)
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Product Information
State preparation and printing is NOT included in this version. This product is compatible with Windows 8.

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Product Details

Platform: PC Download
  • Downloading: Currently, this item is available only to customers located in the United States and who have a U.S. billing address.
  • Note: Gifting is not available for this item.
  • ASIN: B009HBDE06
  • Release Date: November 15, 2012
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (152 customer reviews)
  • Amazon Best Sellers Rank: #319 in Software (See Top 100 in Software)
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Product Description

Platform: PC Download

From the Manufacturer

It’s Your Money. Keep More Of It with TurboTax.

Why spend more than you should to have someone else do your taxes for you? TurboTax puts the power in your hands to keep more of your hard-earned money, with the peace of mind of knowing you have experts in your corner every step of the way.

  • Guides you step by step, asking plain-English questions that are easy to understand and answer.
  • Customized for select industries to help spot commonly-overlooked deductions, so you know you'll get every penny you deserve.
  • TurboTax is right there with expert help when you need it (year-round), so you won’t get stuck if you have a question.
  • Double-checks your return every step of the way to help you get all of the deductions and credits you deserve.
  • Scours your return to flag problem areas that might trigger an audit. If anything does come up, TurboTax tells you how to fix it. Plus, TurboTax's audit support tools give you access to step-by-step guidance on what to do if the IRS contacts you.

TurboTax Business is the do-it-yourself business tax software you’ve been looking for. Now you can complete your business taxes on your schedule — and save money doing it.

TurboTax Business covers your federal business tax return for:

  • Multi-Member LLCs (Form 1065)
  • Partnerships (Form 1065)
  • S Corporations (Form 1120S)
  • C Corporations (Form 1120)
  • Estates and Trusts (Form 1041)

TurboTax Business works best if your small business:

  • Is an S Corporation, C Corporation, partnership, or multi-member LLC
  • Has revenue of less than $250,000
  • Has fewer than five employees

Sole proprietors, consultants, 1099 contractors: use TurboTax Home & Business. TurboTax Business customers also use TurboTax Deluxe for their personal tax returns (sold separately)..

TurboTax Business State forms (sold separately) are available for easy download. You can easily transfer your Federal information so you're well on your way to being done with your State Return before you start.

Knows Your Business and Does the Hard Work For You

With TurboTax Business, you don’t need to know a thing about business taxes. Its customized interview tailors itself to your type of business (corporation, partnership, or multi-member LLC) and provides extra guidance to simplify tax preparation and help you maximize tax savings.

Now you can create and distribute K-1 Forms electronically in PDF format and save a trip to the post office, and enjoy easy transfer of your Federal Return to Your State Return (State Return sold separately via easy download). Plus, TurboTax Business creates Unlimited W-2, 1099-MISC, 1099-INT and 1099-DIV Forms, printed on plain paper — no need for special-colored ink forms.

Speed through entering all your business expenses, no matter how you track them. If you have a Profit & Loss statement, TurboTax streamlines data entry so you can quickly enter all your income and expenses.

If you use QuickBooks, TurboTax Business 2012 has improved the automatic import of your information directly from your QuickBooks3 files. It’s easier than ever with easy tax line assignment and guidance to ensure your financial data is properly represented on your tax return.

If you track expenses manually, TurboTax gives you all the guidance you need to ensure you've covered all income sources and expense categories.

TurboTax Business also provides extra guidance for entering multiple businesses, even if they are different entity types, and guides you step-by-step through a customized rental real estate experience, so you can rest assured all related income and expenses are covered.

Improved Design and Functionality

  • Identifies industry-specific deductions and expenses to help you spot commonly-overlooked deductions.
  • Easier, streamlined Federal 1041 experience for Estate & Trusts.
  • Updated design and editorial for ease and accuracy in all Federal products (1065, 1120, 1120S, 1041), as well as top selling State Products (sold separately).
Simplifies asset depreciation

Reviews your large purchases (assets) and helps you determine the most advantageous, tax-saving strategy for your assets. Then guides you through calculating and reporting depreciation.

Maximizes Business Deductions to Help You Save

Shows you what business expenses you can deduct including:

  • Vehicle Expenses: Shows you whether you’ll get a bigger refund using actual expenses or the standard mileage rate. Provides extra help for splitting vehicle expenses between business and personal use.
  • Supplies: Your paper, ink, postage, staples, CDs, coffee, and more can add up to big savings.
  • Large Purchases (Assets): Tells you if you should fully deduct equipment this year or if you need to depreciate.
  • Promotion and Advertising: Learn how to deduct expenses like brochures, business cards, web sites, and sponsorships.
  • Travel: Tells you when (and how much) you can deduct for meals, airfare, taxis, hotels and more.

Provides Support and Guidance Each Step of the Way

Our CPAs, EAs, and Tax Attorneys are here for you year-round so that you can get expert answers to your questions and help when you need it, free (by phone2).

World-Class Help Built Right In

FAQs, tax topic videos, easy-to-follow tips and how-to’s, troubleshooting articles, government instructions, and IRS publications, so you can get the answers you need every step of the way.

24/7 support web site

Easily search the Support knowledge base for answers to your specific questions, 24 hours per day, seven days per week.

Free technical support

Got a software question? Get answers from a TurboTax expert via phone or live chat.

Helps Reduce Audit Risk

Accurately calculates your taxes, guaranteed

Does all the math for you and TurboTax guarantees its accuracy. If you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, TurboTax will pay you the penalty and interest.

Checks your return for errors

Double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them. You can be confident your taxes are done right.

Alerts you to audit red flags

Points out deductions and tax situations that may increase your risk of an IRS audit.

Also available: Audit Defense

Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to4.

Which TurboTax is Right for You?

Home & Business Business
Form 1040 & Schedule C
I'm a consultant (Form 1040 & Schedule C) X
I'm a 1099 contractor (Form 1040 & Schedule C) X
I'm a sole-proprietor (Form 1040 & Schedule C) X
I have a single-member LLC (Form 1040 & Schedule C) X
Forms 1120, 1120S, 1065, & 1041
My business is an S Corporation (Form 1120S) X
My business is a C Corporation (Form 1120) X
My business is a Partnership (Form 1065) X
My business is a multi-member LLC (Form 1065) X
I have an Estate or Trust (Form 1041) X

Cost includes tax preparation and printing of unlimited federal tax returns and free federal efile, of up to five federal tax returns. State Product not included in Basic but available for download. Additional fees apply for efiling state returns ($19.99). State Efile fees do not apply to New York state returns. Prices subject to change without notice. Internet access required. Not for use by paid preparers.

1. Requires a scanner (not included). E-file is not available for 1041 forms. To complete efile with TurboTax Business, print out the authorization form (8453), sign it, scan it, convert it to a PDF, then attach it to your electronic filing record.
2. Live Tax Advice is a free service available year-round by phone. Service, experience levels, hours of operation, and availability vary and are subject to restrictions and change without notice. (Tax Attorneys are not providing legal advice and are authorized under IRS Circ 230 to provide tax assistance and advice.)
3. Imports from Quickbooks version 2007 and higher. Does not import from Quickbooks Online or Mac products.
4. Service provided by TaxResources, Inc.; additional fees apply.

System Requirements

  • Processor: 1 GHz 32-bit (x86) or faster processor
  • Operating Systems: Windows XP Service Pack 3+ (32-bit) / Windows Vista (32-bit and 64-bit) / Windows 7 (32-bit and 64-bit) / Windows 8 (32-bit and 64-bit) - administrative rights required
  • Memory: 512 MB of RAM (1 GB recommended)
  • Monitor: 800×600 screen resolution (1024×768 recommended)
  • Internet Connection Required: 56 Kbps (Broadband connection recommended)
  • Hard Disk Space: 515 MB for TurboTax (plus up to 1.5 GB for Microsoft .NET 4 client if not already installed)
  • Printer: Any Windows-compatible inkjet or laser printer
  • Third Party Software: Win: Microsoft .NET 4 (included with TurboTax Installer); Adobe Reader 8 or higher

Note: State preparation and printing is NOT included in this version.

Product Description

TurboTax Business: Everything you need for your business income taxes

Customer Questions & Answers

Customer Reviews

Most Helpful Customer Reviews
18 of 18 people found the following review helpful
4.0 out of 5 stars pretty good product, but expensive January 3, 2013
Platform for Display:PC Download|Verified Purchase
I only get this because we have a 2 member LLC. If you have a single member you can use Home and Business - much less expensive. If you need a state return it is another $50.
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15 of 15 people found the following review helpful
Platform for Display:PC Download|Verified Purchase
Since 2008 I have used TurboTax Business to file federal and state returns for a C Corp I own. Each year I import everything from my Quickbooks file and follow the questions to produce a return. And every year when "checking" my return, I am forced by TurboTax to drill down into tax forms and check some boxes and enter numbers after errors are found.

Why are there any errors? There are no errors in my Quickbooks reports. My company is an extremely simple business consulting entity - no inventory, no depreciation, no loss carryovers, just a very basic company with some revenue and expenses and payroll (which is also fully managed by Intuit). I don't even pay myself a dividend.

This year at the very end of the process, before e-filing I have this error out of nowhere: Net Income per Return of $ on Schedule M-1, line 10, does not equal Net Income (Loss) Before State Adjustments of $-831 on Form 100, side 1, line 1.


The reason I buy TurboTax is so I don't have to deal with mindless tax forms. Once again TurboTax is telling me this year's version of "here is your problem - you work it out." - at the very end of the process, after I have signed and am about to e-file.

Well I think I've had enough of TurboTax. A CPA is going to cost me a lot more but I can print out my Quickbooks reports and hand them over and walk away. TurboTax is supposed to be simple but it just never is for me - and my company really could not be any more basic. This is my sixth year of persevering through annoying errors to produce a simple tax return and I've had enough.

I'm going to sign off with this year's error one more time: Net Income per Return of $ on Schedule M-1, line 10, does not equal Net Income (Loss) Before State Adjustments of $-831 on Form 100, side 1, line 1.
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10 of 10 people found the following review helpful
1.0 out of 5 stars Program is flawed! February 23, 2013
By Toni
Platform for Display:PC Download
I have used TurboTax Business for the past 3 years and have had minor problems but this year is by far the worst. Import from Quickbooks failed miserably, arithmetic problems occured - yes simple arithmetic. When I contacted TurboTax Help it consumed 4 hours of my time waiting for someone to respond and/or being transferred to someone else. In truth, I could have done it faster manually - which I ultimately had to do because nothing else was working. Save your money - Downloaded State tax forms -- incorrect forms! NC has new forms available and TurboTax still has the old form. More money wasted!!
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6 of 6 people found the following review helpful
1.0 out of 5 stars It did not work at all March 15, 2013
Platform for Display:PC Download|Verified Purchase
I filled in the interview and reviewed the profit and loss page. Everything looked right so I e-filed. As I reviewed the forms, I saw that the program had failed to transfer the COGS numbers to the tax form. Now I have to do an amended return. After printing 32 pages of amended tax return, I find that it did not transfer all the deductions. At this point the software is totally useless since I am doing everything manually. I would have saved time downloading the forms from and doing them myself.
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8 of 9 people found the following review helpful
5.0 out of 5 stars Turbo tax is great - saves so much time! January 10, 2013
Platform for Display:PC Download|Verified Purchase
I've used Turbo tax since 2007 for both my multi-partner real estate LLC and my personal taxes, and it saves so much time and re-entry of data, since it carries the previous year's data over. This is especially helpful with the depreciation table for capital improvements. I actually finished my 2012 LLC taxes - except for adding two 2012 capital improvements, since the IRS has not released the form yet - in just 45 minutes!
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4 of 4 people found the following review helpful
Platform for Display:PC Download|Verified Purchase
H&R Block is less expensive, easier to use, and does not include errors. The State of Minnesota has been warning consumers not to use Turbo Tax--I should have listened.

I found an error on how Turbo Tax calculates potential penalties. I'm not willing to stay on hold long enough to correct the error. I purchased Turbo Tax because I use Quicken products. . .no more!
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4 of 4 people found the following review helpful
Platform for Display:PC Download|Verified Purchase
Worst hundred plus bucks I ever wasted. I'm not a accountant, but I have done business bookkeeping for more than 20 years and I have a fair knowledge of accounting practices. I had the impression (was it from the advertising?) that TurboTax Business would import data from QuickBooks seamlessly. It did import from QuickBooks but not in a form that fit my S Corporation tax return. For example, the terms in the Balance Sheet produced by QuickBooks are completely different from those on the Form 1120S Balance Sheet. Even the CPA to whom I ended up sending my tax return was puzzled by it.

Editing was difficult and non-intuitive. To edit a single item required starting at the beginning and moving through items until one came to the one to be edited. I finally found that some entries in the forms could be overridden, but that feature was not described anywhere.

TurboTax Business should not be purchased by anyone who does not have an extensive accounting background.
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4 of 4 people found the following review helpful
Platform for Display:PC Download|Verified Purchase
I prepare federal and state income tax returns for trusts which I manage. For my personal income taxes, I use Turbo Tax Home & Business (4 Stars), which imports my Edward Jones 1099's just fine. I thought I could save a lot of time preparing Form 1041's with Turbo Tax Business. However, it does not support data import. So, I have to create a fake return using Turbo Tax Home & Business, import the consolidated 1099's into that return, print the appropriate schedules and then type the information into the real trust income tax return. Although easier than calculating and typing directly from the 1099's, inserting 60 plus transactions by hand is a real pain. If Intuit does no include this next year, I will not be buying the program.
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