Question

Mother died in 2015. In 2016, ~$4k of taxable income was paid to her trust then distr'd to adult kids. What T-T product to use to prep trust's K-1s for distr'ns to kids?

Forum|Forum|7 years ago
June 4, 2019
1 reply
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Looking for guidance from someone familiar with various TurboTax products who can tell me what product to buy to prepare the K-1s described in the question.

Carl11_2

Employee

To file the tax return for the trust, as well as show the distribution of assets and the dissolution of the trust, you need TurboTax Business, which is different from Home & Business. Note that with TurboTax Business you can NOT file a personal tax return of any type. TurboTax Business does NOT include any version of the 1040. TurboTax Business is for S-Corps, C-Corps, TRUSTS, partnerships, joint ventures and a few other things.