Does TurboTax have plans to include Form 4547 for Trump Accounts in 2025 Tax Filings, especially for children eligible for the pilot program contribution?

[michael-a-iasiello]

The instructions and form are available here: https://www.irs.gov/instructions/i4547

[DoninGA]

If you have qualified children under the age of 18 being claimed as dependents, in the File section of the program, after completing your tax return, on Step 2, you will have the option to open a Trump account.

[DianeW777]

Yes, it is available to file in TurboTax Online and TurboTax Desktop versions.  As indicated by DoninGA, you can enter the information for your qualifying children if they are your dependents. Watch for these questions in the 'File' section.

• What or Trump accounts?
• Trump account Key Takeaways

@michael-a-iasiello 

[NAbramo]

where exactly is the form in TurboTax?  How do you get to it?

[DoninGA]

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@NAbramo wrote:

where exactly is the form in TurboTax?  How do you get to it?

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If you have qualified children under the age of 18 being claimed as dependents, in the File section of the program, after completing your tax return, on Step 2, you will have the option to open a Trump account.

[mtkguard]

that makes no sense what you are saying.... what is step two and when you click file on the drop down, it says new tax return, open tax return, save as, and so on. 

[DoninGA]

@mtkguard That procedure if for those using the TurboTax online web-based editions.

If you are using the TurboTax desktop editions, the procedure is different.

Click on File tab (after Review) at the top of the desktop program screen.  Select how you want to file the tax return and continue.  After going through a few screens -

If you have a qualifying child as a dependent under the age of 18, there will be a screen where you can sign up for the Trump account,  It is labeled A new investment account just for kids - coming soon