Irrevocable trust. Got life insurance proceeds this year. insurance company said no taxes are due and no 1099 will be issued. file a 1041 for the trust? If so, how do I show income so beneficiaries don't incur tax?

[M-MTax]

Life insurance proceeds are not taxable. 

[ThomasM125]

In general, life insurance proceeds are not taxable, as mentioned by @M-MTax , but interest earned on the proceeds may be. If the Trust earned over $600 in income during the year, you would need to file a trust tax return. You can do that by using the TurboTax Business product. Investment income would be reported on the K-1 schedules of the trust return Form 1041 that would be issued to the beneficiaries of the trust.