Form 1041

[jerryknip]

This year my wife and i set up a irrevocable  grantor  trust,    I owned farm land that i personnel farm and now rent from the trust  and pay rent to the trust and the trust pays for all taxes. i also own a C Corporation that is a farming operation only  do i file two separate 1040 &1041 form or just one .  all income from the corporation stays in the corporation to pay all expenses the corporation incurs.

[PatriciaV]

Yes, you will file two tax returns. There is no special form for living (grantor) trusts. The trust's income and deductions are reported on the grantor's personal tax return. You will need to use either TurboTax Premium Online or any version of TurboTax for Desktop to prepare a personal return with farming activity.

However, your C-Corporation is required to file Form 1120 Corporation Income Tax return, which you can prepare using TurboTax Business.