topic K-1 reports in Get your taxes done using TurboTax

K-1 reports

cobutcher — Wed, 30 Oct 2024 22:59:31 GMT

Does Turbo Tax do K-1 reports for a trust. I need to do 12 for the beneficiaries. Craig

Re: K-1 reports

Juliane22 — Wed, 30 Oct 2024 23:02:52 GMT

Hi cobutcher!

Yes, trust returns are supported in TurboTax Desktop for Business. You will also be able to generate the trust beneficiaries' Schedule K-1 forms.

Hope that helps!

Re: K-1 reports

VolvoGirl — Wed, 30 Oct 2024 23:09:42 GMT

You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment.

You can buy the stand alone do it yourself Business CD/Download program for Windows here (it is not available to do online or for Mac). This is currently for 2023. The 2024 program should be available in early or mid November.
https://turbotax.intuit.com/small-business-taxes/cd-download