HelenC12
Expert Alumni

Get your taxes done using TurboTax

According to the IRS forms availability table for TurboTax Business FAQ, those forms are estimated to be available sometime 2/11/2021. 

 

The purpose of Form 1041 is for the fiduciary of a domestic decedent's estate, trust, or bankruptcy estate to report:

• The income, deductions, gains, losses, etc. of the estate or trust;

• The income that is either accumulated or held for future distribution or distributed currently to the beneficiaries;

• Any income tax liability of the estate or trust;

• Employment taxes on wages paid to household employees; and

• Net Investment Income Tax. 

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