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New Member
posted Jun 1, 2019 7:49:44 PM

My Mom passed away in Oct 2017. How do I file a return for the trust? I have Home and Business version of TurboTax. How can I find out how much tax the trust has to pay?

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2 Replies
New Member
Jun 1, 2019 7:49:45 PM

If it's a living trust, you can use whichever TurboTax personal program suits your tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.

All other trusts need to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), which is supported in TurboTax Business.

TurboTax Business also generates the trust beneficiaries' Schedule K-1 forms, which the beneficiaries then report on their personal tax returns. (Think of a Schedule K-1 as the trust equivalent of a W-2.)

The related information section in the link below will give you additional information on filing taxes for a trust.
https://ttlc.intuit.com/questions/3918896-which-turbotax-do-i-need-to-file-a-return-for-a-trust

Level 15
Jun 1, 2019 7:49:46 PM

"My Mom passed away in Oct 2017. How do I file a return for the trust?"

You might want to consult with a legal and/or tax professional for this situation.

Although you can use TurboTax Business (as suggested here and in response to your other posted questions), you could have to use the 2017 version of the program if the tax year needs to begin in 2017 (which could be the case if the trust had income that exceeded the filing requirement).