topic Form 1041 in Business & farm

Form 1041

joannpepper — Tue, 24 Feb 2026 03:21:34 GMT

I was told that turbotax "Home and Business" would file both my 1040 and a 1041 - is that true, or must I purchase another version in order to complete the 1041?

Re: Form 1041

Anonymous_ — Tue, 17 Dec 2024 05:21:42 GMT

Re: Form 1041

Critter-3 — Sat, 11 Mar 2023 13:16:29 GMT

H & R Block has that combination in one program but TT doesn't.

Re: Form 1041

sanchezkk — Mon, 25 Sep 2023 19:35:04 GMT

So my parents left their property to us in a irrevocable trust. There is no taxes to pay. My father was a CPA and set this up decades ago. We sold the property and split the funds. The tax attorney said we do not owe taxes however, I have a 1041 K1 form. I do not want to have to pay $190 which is over $100 more to file business, makes no sense if there is nothing to payout. Is that the only option?

Re: Form 1041

VolvoGirl — Mon, 25 Sep 2023 20:13:07 GMT

You have a 1041 K-1 form? So someone else prepared the 1041 Estate/Trust return? You enter the K-1 into your personal 1040 return. If you are using the Online version you need Premier or higher to enter a K-1. Or any of the Desktop installed programs. You don't need to buy the separate $190 Business program.

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to S-Corp, Partnerships and Trusts

Schedules K-1 - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S