I am the executor for my fathers estate which was not settled until Jan 2016. I have a separate tax ID for the estate. The last item to clear the estate was the sale of his house, which sold Jan 2016. All proceeds have been distributed to the heirs. His last personal tax return was filed last year for 2014. He passed away 12/06/2014. Can I use your product to file the estate tax return?
If it's a living trust, you can use whichever TurboTax personal program suits your tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.
All other trusts need to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), which is supported in TurboTax Business.
TurboTax Business also generates the trust beneficiaries' Schedule K-1 forms, which the beneficiaries then report on their personal tax returns. (Think of a Schedule K-1 as the trust equivalent of a W-2.)
TurboTax Business is a Windows-only software program available as a CD or download.
If it's a living trust, you can use whichever TurboTax personal program suits your tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.
All other trusts need to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), which is supported in TurboTax Business.
TurboTax Business also generates the trust beneficiaries' Schedule K-1 forms, which the beneficiaries then report on their personal tax returns. (Think of a Schedule K-1 as the trust equivalent of a W-2.)
TurboTax Business is a Windows-only software program available as a CD or download.