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How to Install a shared printer on a home network
http://www.softwaretipsandtricks.com/guides/articles/54/1/How-to-Install-a-shared-printer-on-a-home-network/Page1.html
By Super Admin
Published on 06/19/2011
 
Attach it directly to one computer and share it with all the others on a network

How to Install a shared printer on a home network

Traditionally, the most common way to make a printer available to a home network has been to connect it to one of the PCs and then tell Windows to share it. It will be called a shared printer. The advantage of sharing a printer is that it works with any USB connected printer. The downside? The host PC always has to be powered up, otherwise the rest of the network won't be able to access the shared printer. In previous versions of Windows, setting up a shared printer was tricky. But HomeGroup has greatly simplified the whole process. When a network is set up as a homegroup, printers and media libraries are automatically shared. If you've already set up a homegroup and want to access a shared printer from another homegroup PC, just follow these steps.

To manually connect to a homegroup printer:
• On the computer the printer is physically connected to, click the Start button, click Control Panel, type homegroup in the search box, and then click HomeGroup.
• Make sure the Printers check box is ticked. (If not, select it, and then click on Save changes.)
• Next go to the computer you intend to print from.
• Open HomeGroup.
• Click on ‘Install printer’.
• If you don't already have a driver installed for the printer on that computer, click on Install driver in the dialog box that appears after the previous step.

Note
after the printer is installed, you can access it through the Print dialog box in any program, just like a printer that's directly connected to your computer. the computer that the printer is connected to must be turned on for you to use the printer.