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June 1, 2019
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Doing taxes for a trust that owns shares of stock. The only income is small change in stock price. No expenses. Which Turbo Tax is needed for taxes 7 K1s for members?

  • June 1, 2019
  • 1 reply
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    Best answer by Ashby

    A trust requires tax Form 1041. That tax return is completed through our separate software, TurboTax Business. You can create and file the 1041 and print/distribute the K-1s to the beneficiaries.

    You will still need our regular TurboTax product for your individual return.

    Here's the link to TurboTax Business:

    https://turbotax.intuit.com/small-business-taxes/

    1 reply

    AshbyAnswer
    June 1, 2019

    A trust requires tax Form 1041. That tax return is completed through our separate software, TurboTax Business. You can create and file the 1041 and print/distribute the K-1s to the beneficiaries.

    You will still need our regular TurboTax product for your individual return.

    Here's the link to TurboTax Business:

    https://turbotax.intuit.com/small-business-taxes/