"If I have a relatively simple K-1 from a trust can I still use Turbotax Deluxe" No, not the online version of TurboTax Deluxe. In order to enter information from a K-1 (even a simple K-1) with an online version of TurboTax, you will need at least TurboTax Premier.  You can, however, enter information from a K-1 with any desktop (CD/Download) version of TurboTax. ... View more

"How do I file Texas taxes for an estate?" The reference is probably to the Texas Franchise Tax but you do not have to file for an estate.  See https://comptroller.texas.gov/taxes/franchise/forms/2019-franchise.php ... View more

" IRS Form 1099-B for investment sales proceeds and gain/loss.  I need to file the 1041 for a trust." Unfortunately, you cannot import Form 1099-B (or any other tax reporting form) into TurboTax Business.  The product is only capable of importing data from QuickBooks. ... View more

"Can I file 1041 using turbotax live for my living trust?" Living trusts are virtually always grantor trusts and, as such, are disregarded entities for federal income tax purposes. Therefore, you can report income, gain, etc., directly on your personal income tax return. See https://www.irs.gov/instructions/i1041#idm140630131849312 Note that if you have obtained an EIN for the trust and have elected to choose an optional method for reporting on a 1041, then you need to use TurboTax Business. TurboTax Business is capable of preparing a 1041 for a grantor trust, but is not capable of preparing a personal income tax return. Further, TurboTax Business is not available Online nor is there a Mac version; it must be installed and run in a Windows environment on your PC. See https://turbotax.intuit.com/small-business-taxes/ ... View more

"Florida paid registration fees" Vehicle registration fees in Florida are based on the weight, not the value of the vehicle. As such, the fees are not generally deductible as a personal property tax for federal income tax purposes. ... View more

The assets you entered on the federal side of the program should have been transferred to the Florida DR-405. However, nothing will print (the DR-405 will contain no assets), except an instruction sheet, unless those assets were transferred or you manually entered assets in the DR-405 worksheet.  If you use tangible personal property in connection with your business or rental property, then you may have to establish an account with the county property appraiser and then file a Form DR-405 to report that personal property. Regardless, you might want to contact your county property appraiser before proceeding further (see link below). http://floridarevenue.com/property/Pages/LocalOfficials.aspx  Note that Florida does not levy a state individual income tax so there is nothing you need to file with the state. ... View more

The Form 1041 instructions delineate the differences rather succinctly but one of the primary differences is that a complex trust can usually distribute capital gains to the beneficiary(ies), which otherwise belong to the corpus of the trust and remain within the trust. See https://www.irs.gov/instructions/i1041#idm140376226642960 A couple of things to bear in mind include: 1) The trustee (or administrator) does not get to choose "simple" or "complex"; that is contained in the trust document. 2) In the final year of the trust, the trust is automatically complex (since it will be distributing corpus and terminating). ... View more