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Level 1
posted Oct 30, 2024 3:59:31 PM

K-1 reports

Does Turbo Tax do K-1 reports for a trust. I need to do 12 for the beneficiaries.  Craig

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1 Best answer
Employee Tax Expert
Oct 30, 2024 4:02:52 PM

Hi cobutcher! 

Yes, trust returns are supported in TurboTax Desktop for Business. You will also be able to generate the trust beneficiaries' Schedule K-1 forms.

Hope that helps!

2 Replies
Employee Tax Expert
Oct 30, 2024 4:02:52 PM

Hi cobutcher! 

Yes, trust returns are supported in TurboTax Desktop for Business. You will also be able to generate the trust beneficiaries' Schedule K-1 forms.

Hope that helps!

Level 15
Oct 30, 2024 4:09:42 PM

You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment.


You can buy the stand alone do it yourself Business CD/Download program for Windows here (it is not available to do online or for Mac).  This is currently for 2023.   The 2024 program should be available in early or mid November.  
https://turbotax.intuit.com/small-business-taxes/cd-download