There is no special tax form for living trusts the trust's income and deductions are reported on your personal tax return. If it's a living trust, you can use whichever TurboTax personal program that suits your tax situation. People also ask, is there a TurboTax for trusts? In that case, the income total does not matter, and a return must be filed. If the estate has no income producing assets or the annual gross income is less than $600, no return is necessary. Not every estate is required to file Form 1041 for income earned. It's not available for Mac or in our online versions of TurboTax.Īdditionally, do I need to file Form 1041? Estates. TurboTax Business is available for Windows on CD or as a download. You'll need TurboTax Business to file Form 1041, as the personal versions of TurboTax don't support this form. Just answer simple questions about your life, and TurboTax Free Edition will take care of the rest.įurthermore, which version of TurboTax do I need for Form 1041? You'll also need to use one of our personal tax products for your individual tax return. If you need to prepare a federal tax return for an estate or trust using Form 1041, use our TurboTax Business product.
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