Can I use Turbotax Home and Business to file a 1041 for a Trust B?

[gloriah5200]

Depending on what you are referring to as a Trust B and what kind of income and deductions you plan to take, yes, you can use TurboTax Home and Business to file a 1041 for a Trust.

[karensc]

It was a living trust and then became a trust b in 2017 when my spouse passed away. I am the trustee. dividends around $2000, capitol gains of $200 and $250 worth of interest income

[SamS1]

TurboTax home and business is for personal  tax returns.  You will need to purchase TurboTax Business to prepare the trust return. 

It sounds like when your spouse passed away, her grantor trust terminated with the asset flowing out to separate trusts,  Normally, Trust A is the marital trust and Trust B is the family trust.  As trustee, you are responsible for the assets in the family trust with approving distributions to the beneficiaries and getting the taxes filed then paid. 

TurboTax Business will be able to generate the 1041 and schedules K1 for each beneficiary.  For tax year 2020, the filing due date is still 4/15 for trust tax returns as the 5/17 extended due date only relates to individuals.  Click here to purchase TurboTax business on Amazon.