Yes, TurboTax Business supports these filings, but they are handled in different sections of the software because they serve two different purposes.
The "65-day rule" allows you to treat a distribution made in early 2026 as if it happened on December 31, 2025. How TurboTax handles it: You do not need Form 1041-T for the 65-day rule itself. Instead, you simply check a box on Page 3 of Form 1041 (under "Other Information," Question 6).
In TurboTax Business, go to the Federal Taxes tab > Other > Elections. Look for the checkbox that says: "Check this box if the trust is making a Section 663(b) election."
You only need to file Form 1041-T if the trust made estimated tax payments during the year and you now want to "give" those tax credits to the beneficiaries so they can use them on their own 1040 returns. While Form 1041-T also has a 65-day filing deadline (March 6th for calendar year trusts), it is a separate election (Section 643(g)).
In TurboTax, this is usually found under the Federal Taxes tab > Deductions > Estimated Taxes.
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