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New Member
posted Dec 21, 2023 6:57:02 PM

Can I file a tax return for a family trust?

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2 Replies
Level 15
Dec 21, 2023 7:04:06 PM

If you need to file a separate Business return like for a 1065 Partnership or LLC or a 1120 including a Single Member LLC - S corp or a 1041 Estate/Trust return you need Turbo Tax Business in addition to a personal tax program.


You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment. TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes


You can have both a personal program and the Business program installed on the same computer at the same time.

Level 15
Dec 21, 2023 7:06:38 PM

If the trust is a grantor trust (see link below), then there are optional filing methods.

 

https://www.irs.gov/instructions/i1041#en_US_2022_publink1000286018

 

If the trust is required to file Form 1041, then TurboTax Business will be needed as the TurboTax individual income tax preparation products do not support Form 1041.

 

See https://turbotax.intuit.com/small-business-taxes