I need to create a K-1 for my trust. Do I need to create a separate "business" turbotax account to create this form and then use my personal account to enter the k-1?

[dollfin79]

Just trying to figure out if I need 2 separate Turbotax accounts and payments to create the form and then enter the resulting schedule k-1 into my personal filing.

[Anonymous_ · Accepted solution]

" Just trying to figure out if I need 2 separate Turbotax accounts"

Yes, you do. In order to prepare a 1041, and associated K-1s, for an estate or trust, you will need to purchase a copy of TurboTax Business as well as a personal income tax preparation product (see note below). 

TurboTax Business:  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).