Carl
Level 15

Get your taxes done using TurboTax

To complete a 1040 Trusts & Estates tax return you must use TurboTax Business, which is different from Home & Business.

TurboTax business is not available as an online product and is not available for MACs. TurboTax Business is for the Windows operating system only. You can purchase TurboTax Business 2019 at https://turbotax.intuit.com/small-business-taxes/ though you may find it cheaper at your local authorized retailer such as Wal-Mart or Target.

If you purchase it online directly from Intuit, you will be able to download the CD installation file and install it on your windows computer "right now" if you want.

Take special note that if the trust has benificiary recipients, then you must complete the 1041 return first, before you can even start your personal 1040 tax return. THat's because the trust will issue each benificiary recipient a K-1 (if applicable) and the recient's of those K-1's will need those K-1's issued by the trust in order to complete their personal 1040 tax return.

If this is a calendar year trust, then the trust return is due to the IRS by March 15th. If late, any assessed fines and/or penalties are assessed to the legally appointed/recognized administrator of the estate or trust. The estae or trust is *NOT* the entity that pays fines and penalties. The administrator pays those fines/penalties out of their own pocket an they are *NOT* deductible on *ANY* tax return. So if applicable, don't be late. The late filing penalty is a minimum of $200 per month, and can be higher.