@RPini wrote:
Will the trustee be required to file form 1041 to pay the capital gain tax for the home/estate before distribution of the proceeds from the home sale or can the capital gain tax be passed on and paid separately by the beneficiaries? Depending on the answer, can this type of filing be done on Turbotax?
The preparation of a Form 1041 (and associated K-1s) can be done with TurboTax Business, which must be installed and run in a Windows environment; there is no online or Mac version.
See https://turbotax.intuit.com/small-business-taxes/
Depending upon the terms of the trust, the capital gain from the home sale can be distributed to the beneficiaries and reported on each beneficiary's K-1 and, as a result, any tax due will be the responsibility of the beneficiaries.
