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dsvge74
New Member

Do I file an estate return separately from a personal return

 
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4 Replies

Do I file an estate return separately from a personal return

A 1041 Estate/Trust Return?  Yes.

 

You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment. TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes


You can have both a personal program and the Business program installed on the same computer at the same time.

 

Or do you need to enter an estate K-1 into your personal return?

dsvge74
New Member

Do I file an estate return separately from a personal return

Do I need to include the K1 into my personal return 

dsvge74
New Member

Do I file an estate return separately from a personal return

Wait, so I do different returns for them?

DaveF1006
Expert Alumni

Do I file an estate return separately from a personal return

Yes, you need a Turbo Tax Business product to file an estate return as this type of return will be filed on Form 1041. Once the return is filed and if there are K1's generated from this return to the beneficiaries listed in the return.

 

Each beneficiary that has a K1 will need to report their K1's on their own individual 1040 tax returns.

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