Can TurboTax Home and Business prepare a form 1041 for a trust and generate a K-1 for my personal return?

Forum|Forum|2 years ago
January 24, 2024
20 replies
188 views

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TurboTax Online

Anonymous_

Level 15

No, you need TurboTax Business to prepare a Form 1041 for a trust and associated K-1s.

TurboTax Business must be installed and run in a Windows environment and note that you also need a product, like Home & Business, to prepare your individual income tax return (1040).

TomD8

Alumni - Champ

Here's a link to the product you need:

https://turbotax.intuit.com/small-business-taxes/cd-download/

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Anonymous_

Level 15

Amazon has a better price on the product currently ($113).

TurboTax Business at Amazon

cchanin

Level 3

I have Premier on my Mac and am finished with my deceased dad's taxes, ready to file. How can I upgrade to Business since I need to have from 1041 and that is not available on a PC!? Can I upgrade and switch to my PC?

Anonymous_

Level 15

@cchanin

You can switch to your PC but TurboTax Business is not an upgrade, it is an entirely separate program that needs to be purchased separately.

cchanin

Level 3

That does not make sense. I already purchased Premier which I could have put on my PC, but I put on my Mac instead. I did not realize I needed Form 1041 when I did that.

bk1999

Level 2

I too mistakenly upgraded to TT Home & Business thinking I could file the required 1041 for a simple trust. This is very aggravating, I don't have a Windows system to install TT Business on, only a Mac, so I guess I have to do it the old fashioned way. Not very helpful Intuit!