Get your taxes done using TurboTax

You should seek guidance from a tax professional, at least initially, to get the matter set straight.

 

A trust is generally required to file a 1041 if it has income of $600 or more or any taxable income.

 

See https://www.irs.gov/instructions/i1041

 

The only TurboTax product that can be used to prepare and file a 1041 is TurboTax Business, a product that must be installed and run in a Windows environment; there is no onlne or Mac version. Further, TurboTax Business cannot be used to prepare an individual income tax return (1040).

 

 

You should take note that, with respect to grantor trusts, there are optional methods of filing. Generally, if your financial institutions (and also anyone from whom you receive income) are issuing tax reporting statements using your individual name with your social security number, you should be able to use a method of filing that obviates the need for a 1041.

 

See https://www.irs.gov/instructions/i1041#en_US_2021_publink1000286019

 

See