"how do i file a tax return for an irrevocable trust using turbo tax"
In order to prepare a 1041 for a trust, you will need to purchase a copy of TurboTax Business as well as a personal income tax preparation product (see note below). https://turbotax.intuit.com/small-business-taxes/
Note: TurboTax Business must be installed and run in a Windows environment; it is not available as an online product nor will it run natively on a Mac. Further, you still need a TurboTax personal income tax preparation product since TurboTax Business is not capable of preparing individual income tax returns (it can only prepare returns for entities).
"how do i file a tax return for an irrevocable trust using turbo tax"
In order to prepare a 1041 for a trust, you will need to purchase a copy of TurboTax Business as well as a personal income tax preparation product (see note below). https://turbotax.intuit.com/small-business-taxes/
Note: TurboTax Business must be installed and run in a Windows environment; it is not available as an online product nor will it run natively on a Mac. Further, you still need a TurboTax personal income tax preparation product since TurboTax Business is not capable of preparing individual income tax returns (it can only prepare returns for entities).
I did not see 1041 form listed in TurboTax business. I have ILIT with Separate SSN where I gift every year and I am not beneficiary. Will TT Business guide me thru steps to file ILIT Tax filing process similar to my personal tax using TT Delux ? Is there a video guide that I can watch and understand how this is done between TT Delux and TT Business? Thank you.
Will TT Business guide me thru steps to file ILIT Tax filing process similar to my personal tax using TT Delux ? Yes it is interview based just like the personal returns.
Is there a video guide that I can watch and understand how this is done between TT Delux and TT Business? Not in the program ... you can check U-tube.
Buy it here : https://turbotax.intuit.com/small-business-taxes/
If I gift under $15000 to trust, there is no gift tax. I am told by Trust attorney to report the gift to IRS but I dont see any form in TurboTax Premium. Will TurboTax business create this form as well ? Thank you
A gift tax return is separate from income tax. It does not go on her income tax return. TurboTax cannot be used to prepare a gift tax return.