topic A question about filing a 1041 for trust in Business & farm

A question about filing a 1041 for trust

csbarbero — Thu, 19 Feb 2026 01:11:15 GMT

I think these are two relatively simple questions. Never having done estate taxes I am sure they are easy for someone to answer who is better educated and is familiar with TurboTax For Business when using it for a trust.

In short, my mom passed in 2024 and a new trust was established with me as the new trustee, her executor. She sold her house prior to passing, so all she had was money in an investment account. I received a1099-INT and 1099-DIV totaling about $700 in dividends, $4,600 in interest income and $13,300 in Treasury bonds. My deductions were about $5,600 which were for the accountant who last year helped me with her estate taxes.

The two questions are:

1) There is a question in TurboTax For Business where it asks if I made distributions to the beneficiaries. Well the $400K+ estate was split 3 ways amongst me and my siblings before 2025's end, but TurboTax specifically refers to only the $13,500 in what is called "Accounting Income" (I have no idea how this amount was derived). I answered yes, gave the 33% amount for percentages, but I am not sure if this is correct since the distributed amount was a much greater sum than just the Accounting Income.

2) Related to question #1, I can't see with the Business version (yes if I use TurboTax as an individual) but is there a way to hire a tax expert to see if I did things correctly? I am somewhat but not 100% confident I did things correctly. My gut is that I am somewhat close.

Thank you for any answers!

Re: A question about filing a 1041 for trust

M-MTax — Thu, 19 Feb 2026 01:34:33 GMT

@csbarbero wrote:
...I am not sure if this is correct since the distributed amount was a much greater sum than just the Accounting Income.

Correct, but the amount over the DNI is corpus (principal), is not taxable, and does not really even need to be reported on the K-1s.

Re: A question about filing a 1041 for trust

M-MTax — Thu, 19 Feb 2026 01:37:02 GMT

@csbarbero wrote:
.....is there a way to hire a tax expert to see if I did things correctly?

You can contact Support about this one BUT I don't believe they offer expert services for trusts or estates (1041s). I believe that is only for partnerships and corporations.

Very sorry for your loss.

Re: A question about filing a 1041 for trust

csbarbero — Tue, 24 Feb 2026 19:42:54 GMT

Thank you very much for all of your tax help. I really do appreciate it. And thank you for your kind words.

Chris