When will Schedule K-1 (1041) be available?

[mrsmaclibra]

Does Turbo Tax 2020 Premier even support Schedule K-1 (1041)?

[HelenC12]

I just checked the personal TurboTax product forms availability FAQ and Schedule K-1 Worksheet (Form 1041) - Estates and Trusts, is scheduled to be ready sometime today, 02/25/2021. For additional updates, please check here.

Yes, the personal TurboTax products that support K-1's are:

• Online: TurboTax Premier, TurboTax Live Premier, TurboTax Self-Employed , TurboTax Live Self-Employed.
• CD\Download Deluxe, Premier, Home & Business .

Schedule K-1s are issued by pass-through entities (partnerships, S corporations, estates, trusts, and LLCs). These entities don't pay income tax on the profits and losses that are "passed through" to their partners, owners, shareholders, or beneficiaries on Schedule K-1. The recipients then report the K-1 on their own personal tax returns.

• To enter, see Where do I enter a K-1 that I received?