I've used both. TurboTax Business can handle basic partnership returns and K-1s, but if your situation has anything unusual (special allocations, guaranteed payments, multiple classes of membership, etc.), it's easy to mess up. We switched to an accountant when we hit around $250k in revenue and it was worth every penny - she found several mistakes in our previous self-prepared returns.

That's really helpful, thanks! We're still pretty small but growing fast. Maybe I'll try the software this year and budget for an accountant next year if things keep growing.

You've got it exactly right! Form 1065 and K-1s for partners, no 1099s needed for distributions or guaranteed payments. For the timing question - yes, K-1s must be provided to partners by March 15th (the same deadline as filing Form 1065). This gives partners time to complete their personal returns by April 15th. If you need an extension on the partnership return, you can file Form 7004, which extends both the filing deadline and the K-1 distribution deadline to September 15th. Just make sure to get those K-1s out on time since your partners need them to file their personal returns!

Did you need to hire a lawyer to file with the Department of Labor, or were you able to handle the process yourselves? And roughly how long did the investigation take before you saw results?

We didn't need to hire a lawyer to file the initial complaint with the DOL. The process was surprisingly straightforward - we filed a wage claim form as a group, attaching our documentation showing the policy and its impact. The DOL has staff who investigate these claims as part of their regular duties. The investigation took about 3 months from filing to resolution. We had very clear documentation which helped speed things up. The DOL investigator interviewed several employees and requested records from the company. What really sealed the case was having copies of the policy that showed employees couldn't submit expenses until getting approval, plus emails showing approval delays beyond the 60-day window.

There's an important distinction here. Companies can set their own reimbursement policies, but they can't implement policies that effectively push their business expenses onto employees' tax bills. When an employee travels for business, those are company expenses, not personal ones. If the company's policies make it impossible to submit within the IRS's 60-day window, and then the company refuses to gross-up the tax impact, they're essentially making employees pay part of the company's business expenses through increased personal taxes. Many states have laws requiring employers to reimburse necessary business expenses. California Labor Code Section 2802, for example, specifically requires employers to indemnify employees for all necessary expenditures incurred in the course of employment.

@Emma Garcia is absolutely right about the legal distinction. What makes this particularly problematic is that the company is creating a situation where employees are financially penalized for following company policy. Think of it this way - if your employer required you to use your personal credit card for business expenses but then refused to reimburse you for the interest charges that accrued due to their slow approval process, that would clearly be shifting business costs to employees. This is essentially the same thing, just with tax consequences instead of interest. The Department of Labor has ruled in similar cases that when company policies directly cause employees to incur additional costs whether (interest, fees, or in this case taxes ,)the employer has a duty to make the employee whole. The fact that management s'only solution is don "t'be late when" their own process makes it impossible to be on time shows they understand the problem but are choosing to ignore their responsibility. @NeonNova, I d'definitely recommend following @Maya Patel s suggestion'about filing with your state DOL. The documentation you have showing the policy and approval delays should make this a pretty clear-cut case.

Thanks for sharing your experience! 10 weeks is rough but good to know about the documents thing - I think I uploaded everything but now I'm second-guessing myself 😅 Did you get any confirmation that they received your resubmission or did you just have to wait and hope?

23 I used TurboTax last year for my RSUs. It can handle it, but you need to make sure you enter everything correctly. When entering your 1099-B, there should be an option to adjust the cost basis. You'll need to enter the correct cost basis (vesting date FMV) manually. If you have a lot of transactions, it gets tedious. I found the Premier version better than Deluxe for stock stuff. Just make sure to double-check everything - TurboTax sometimes gets confused with RSUs and can suggest the wrong thing.

This is really helpful advice about timing! I hadn't thought about the fact that I can't claim it as primary residence while I'm still mainly living in my apartment. That makes total sense from an audit perspective. Quick question - when you say "basic amenities," does that mean I need full plumbing or would a composting toilet and water source be sufficient initially? The cabin has electricity but the plumbing situation is pretty primitive right now. I'm planning to upgrade it gradually as I can afford it, but want to make sure I'm not jumping the gun on claiming primary residence status before it truly qualifies. Also, should I notify my current landlord about my move-out date based on when the cabin is actually habitable, or can I give notice earlier if I'm confident about the timeline? Trying to coordinate all these moving pieces without creating tax complications!

Great question about the amenities! The IRS doesn't have super specific requirements, but they generally expect a residence to have the basics for year-round living. A composting toilet and reliable water source could work initially, especially in rural areas where that's more common. The key is that it needs to be genuinely livable - you're actually sleeping there, cooking, etc. I'd recommend getting at least basic plumbing functional before officially claiming it as your primary residence, just to be safe. Document everything with photos and receipts as you make improvements. For the landlord timing, I'd base your notice on when you realistically expect to be living at the cabin full-time, not just when renovations start. Better to give a bit more notice than to rush the transition and create issues with the IRS about when you actually changed residences. Keep in mind you'll need to update your address with banks, insurance, voter registration, etc. all around the same time to support your claim that it's truly your primary residence.