Will self employed turbo tax do a 1041 trust return?

[CapB · Accepted solution]

No, Form 1041 is not found ins TurboTax Self-Employed. 

Use the link below to purchase TurboTax Business download to prepare Form 1041 Trust Returns:

https://turbotax.intuit.com/small-business-taxes/

[HelenaC]

No, self-employed TurboTax will not prepare Form 1041 (U.S. Income Tax Return for Estates and Trusts).

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.)

TurboTax Business is a Windows-only software program available as a CD or download.

Related Information:

• Do I have to file a trust tax return?
• How do I file Form 1041 for an estate or trust?