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crazkd2
New Member

Outside of my personal returns (which I have already completed), I need to do two returns for Trusts that I am the trustee for. Which package should I purchase?

 
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AndreaC1
Level 9

Outside of my personal returns (which I have already completed), I need to do two returns for Trusts that I am the trustee for. Which package should I purchase?

If they are living trusts, you can use whichever TurboTax personal program suits your personal tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.

All other trusts need to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), which is supported in TurboTax Business. Found here https://turbotax.intuit.com/small-business-taxes/ and this is only available as a Windows download. There is no online or Mac version for this software.

There are several types of trusts that require the filing of a Tax Return for Estates and Trusts (Form 1041), but some do not. You can find more details here on the ones that need to be filed and which don’t, using Form 1041 https://ttlc.intuit.com/questions/1901403

Other Related Topics:

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AndreaC1
Level 9

Outside of my personal returns (which I have already completed), I need to do two returns for Trusts that I am the trustee for. Which package should I purchase?

If they are living trusts, you can use whichever TurboTax personal program suits your personal tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.

All other trusts need to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), which is supported in TurboTax Business. Found here https://turbotax.intuit.com/small-business-taxes/ and this is only available as a Windows download. There is no online or Mac version for this software.

There are several types of trusts that require the filing of a Tax Return for Estates and Trusts (Form 1041), but some do not. You can find more details here on the ones that need to be filed and which don’t, using Form 1041 https://ttlc.intuit.com/questions/1901403

Other Related Topics:

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