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New Member
posted Apr 7, 2025 3:33:58 PM

can I upgrade my premium account to do a 1041

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2 Replies
Expert Alumni
Apr 7, 2025 3:37:50 PM

Do you mean, are you able to report an IRS form K-1 (1041) in TurboTax Premium Online?

 

Yes, you may.  Follow these steps:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Click the down arrow to the right of S-corps, Partnerships, and Trusts.
  • Click to the right of Schedule K-1.
  • At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
  • For several screens, you will be entering data right off the K-1 form.

Level 15
Apr 7, 2025 3:39:31 PM

No, you cannot upgrade from Premium to Business.

 

The TurboTax Business Edition is a standalone edition to be installed on a Windows based personal computer.  The edition supports Form 1065 for Partnerships, Form 1120 for C Corporations, form 1120-S for S Corporation and Form 1041 for Estates and Trusts.

Go to this TurboTax website for the 2024 Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/