You'll need to sign in or create an account to connect with an expert.
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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Gary2173
New Member
Ian B
New Member
Harry C1
New Member
ladyc99
Level 1
SD2025
Level 1