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March 20, 2023
Question

Irrevocable Living Trust, can I use turbotax to file an Irrevocable Living Trust return? It includes K1 and a 1099-DIV

  • March 20, 2023
  • 2 replies
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Irrevocable Trust

2 replies

PatriciaV
Employee
March 20, 2023

Yes. To report the activity of a living trust, you can use whichever TurboTax personal program that suits your tax situation. There is no special tax form for living trusts; the trust's income and deductions are reported on your personal tax return.

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March 20, 2023

you need Turbotax Business. only available for full windows PC to do a 1041.   please note that even though the title includes "Irrevocable" it may be treated for tax purposes as a grantor trust which is completely different tax reporting - like a disregarded entity. if a lawyer drew it up confer with them as to proper tax reporting.