topic Irrevocable Trust, which 2024 Turbotax product is required? in Get your taxes done using TurboTax

Irrevocable Trust, which 2024 Turbotax product is required?

Navydrifter — Sat, 22 Feb 2025 20:28:09 GMT

I wish Turbotax would clearly state in their product offerings which one is required for those of us doing the taxes for those with an Irrevocable Trust.

Re: Irrevocable Trust, which 2024 Turbotax product is required?

Mike9241 — Sat, 22 Feb 2025 20:37:59 GMT

see this webpage. you may need to scroll down

https://turbotax.intuit.com/small-business-taxes/cd-download/

Tuirbotax Business does 1041(trusts including grantor and not grantor trusts) 1065 (partnership), 1120 (C corporation) and 1120S (S corporation)

you can also pay extra to have a Turbotax pro prepare the 1041.

all other versions including Home and Business only do the 1040

Turbotax does not do form 706, 709, 990s many local returns, even some federal forms, 1040-NR and probably a lot more.

Re: Irrevocable Trust, which 2024 Turbotax product is required?

Navydrifter — Sat, 22 Feb 2025 21:03:43 GMT

Thank you. It's very disappointing that Turbotax requires people to buy a product that is overkill and so much more expensive. So many people do not own a business but are required to submit a 1041 because they or their family member had put their assets into Irrevocable Trusts.