1041 and 1040
I formed a Trust this year. Do I have to file both a 1040 and 1041? I received an EIN number for the trust and was told I needed to file a 1041 this year.
I formed a Trust this year. Do I have to file both a 1040 and 1041? I received an EIN number for the trust and was told I needed to file a 1041 this year.
Expert Reviewed
Yes, you have to file a Form 1041 for the trust and a Form 1040 for your personal income and expenses.
The Form 1041 can only be completed and filed using the TurboTax Business Edition. The Business Edition can only be installed on a Windows based computer, not online or on a Mac. The Business Edition cannot be used to complete a personal tax return, Form 1040.
Go to this website to purchase and download the Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.