can I upgrade my premium account to do a 1041

robertmosher1 · ‎April 7, 2025

JamesG1 · ‎April 7, 2025

Do you mean, are you able to report an IRS form K-1 (1041) in TurboTax Premium Online?

Yes, you may. Follow these steps:

Down the left side of the screen, click on Federal.
Down the left side of the screen, click on Wages & Income.
Click the down arrow to the right of S-corps, Partnerships, and Trusts.
Click to the right of Schedule K-1.
At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
For several screens, you will be entering data right off the K-1 form.

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DoninGA · ‎April 7, 2025

No, you cannot upgrade from Premium to Business.

The TurboTax Business Edition is a standalone edition to be installed on a Windows based personal computer. The edition supports Form 1065 for Partnerships, Form 1120 for C Corporations, form 1120-S for S Corporation and Form 1041 for Estates and Trusts.

Go to this TurboTax website for the 2024 Business Edition - https://turbotax.intuit.com/small-business-taxes/cd-download/