Can I file trust and personal taxes together?

jmazi · ‎July 5, 2023

I have been a long-time turbo tax personal user. This past year my father died and I inherited a Trust. Not big, but not small either. I believe I need to submit a 1041 for the trust.

Can I do both of these together in TurboTax Business - or do I have to buy both versions and submit separately? The Trust took a loss in 2022.

Mike9241 · ‎July 5, 2023

the Business version does 1041's but not individual returns. currently only available for Windows computers.

1041 and 1040 must be separately e-filed.

Opus 17 · ‎July 5, 2023

They are completely separate. You need Turbotax Business for the estate (1041). Then you need Turbotax Deluxe or Premier (the personal version) for your own personal tax return. The 1041 will issue a K-1 statement to the trustees and that statement is included on your personal return along with your other income, deductions, dependents and credits.