Get your taxes done using TurboTax

Tax on a Form 1041 is calculated on Schedule G. If you only have interest income, the amount goes on line 1a. You can use the chart below to calculate the tax. 

Don't forget, you may be able to deduct allowed expenses of the trust on lines 10-19 and you can take the trust exemption of $100 on line 21.

For more information, click here.