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lmdumont
New Member

How do I get business form 1041 for my trust?

 
3 Replies
DawnC0
Intuit Alumni

How do I get business form 1041 for my trust?

You need TurboTax Business to prepare a Form 1041 (U.S. Income Tax Return for Estates and Trusts).   If you serve as the trustee of a trust, you have a number of reporting obligations under the federal income tax laws, which includes the preparation of Schedule K-1 (Form 1041) for each beneficiary.   When you prepare the Form 1041 (in TurboTax Business), TurboTax will generate K-1s for the beneficiaries of the trust.  The K-1 you receive from the trust should be entered on your tax return using Home and Business.  

lmdumont
New Member

How do I get business form 1041 for my trust?

I have Turbo Tax Home AND Business.  Why doesn't it have that form.  I did all my taxes in there and now am stuck without that form.  AND means you get both Home AND Business. How can I get this form?
DawnC0
Intuit Alumni

How do I get business form 1041 for my trust?

Home and Business is for personal/self-employment taxes and will not prepare a Form 1041.  You can enter the K-1 from the 1041 into Home and Business but you can't prepare a trust tax return using any of TT personal tax products.   <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/">https://turbotax.intuit.com/small-business-taxes/...>
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