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AlisaA
New Member

2020 Final Return on 1041 for Partial Year - Help!

Hello!  I have used TurboTax to do the returns for my mother's estate for 2018 and 2019.  In order to close the estate, I need to complete the final estate return for 2020.  It will only be a partial year.

 

I have been trying to figure out how to start a new return using the 2019 software and it is not allowing me to set it up and import all the data in.  I did already submit my 2019 taxes back in Feb 2020 for the estate.

 

Can someone advise me on how to open up the return in the 2019 software for 2020?  I have found other posts stating you don't fill in the dates but that doesn't help me with importing information, calculations, etc.  I really do not want to have to write it all out by hand!!! 

 

Additional information:  I have the Business edition and used it for the 2019 Estate 1041 form.  Also, I am on the Windows platform.  

 

Thank you in advance for any help you can give!!

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Accepted Solutions

2020 Final Return on 1041 for Partial Year - Help!

The estate can use the 2019 Form 1041 but it must show the 2020 tax year on the form and incorporate any tax law changes that are effective for tax years beginning after 2019.

 

See https://www.irs.gov/instructions/i1041#idm140366338175360

 

You can use the 2019 version of TurboTax Business for the foregoing purpose, but you must either override dates (on at least Form 1041 and your K-1s) or even print out and hand write the dates on those forms. Regardless, you will have to print and mail the return for the 2020 tax year.

 

Further, note that there is no way to import your 2019 return into the return you will prepare for the 2020 tax year. You either need to start a new return from scratch or use the 2019 return as a baseline but change and/or delete entries that were valid only for 2019.

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1 Reply

2020 Final Return on 1041 for Partial Year - Help!

The estate can use the 2019 Form 1041 but it must show the 2020 tax year on the form and incorporate any tax law changes that are effective for tax years beginning after 2019.

 

See https://www.irs.gov/instructions/i1041#idm140366338175360

 

You can use the 2019 version of TurboTax Business for the foregoing purpose, but you must either override dates (on at least Form 1041 and your K-1s) or even print out and hand write the dates on those forms. Regardless, you will have to print and mail the return for the 2020 tax year.

 

Further, note that there is no way to import your 2019 return into the return you will prepare for the 2020 tax year. You either need to start a new return from scratch or use the 2019 return as a baseline but change and/or delete entries that were valid only for 2019.

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