"How do I create IRS form 4972 (Lump Sum Distribution) using turbotax business for a 1041 Estate return?"
You will need to download and prepare Form 4972 separately since TurboTax Business does not support the form. You can easily insert the resultant amount of tax from Form 4972 on your 1041 (Schedule G, line 1b) in Forms Mode.
https://www.irs.gov/pub/irs-pdf/f4972.pdf