Question

Form 1041. Trust return. I have business expenses. (162). On which line of the form do I deduct them?

Forum|Forum|2 years ago
April 1, 2024
1 reply
0 views

Turbotax for Business, Trust return, not the final year of the trust. Where do I deduct office expenses, cost of Turbotax, postage, etc? Which line of form 1041?

TurboTax Online

A

Anonymous_

@leisinger wrote:
Turbotax for Business, Trust return, not the final year of the trust. Where do I deduct office expenses, cost of Turbotax, postage, etc? Which line of form 1041?

In connection with a business owned by the trust? Is the trust the sole owner of the business?

If so, you will have to resort to Forms Mode and complete a Schedule C.