Question

I have two irrevocable trusts for my children and need to file taxes, how do I do this?

Forum|Forum|2 years ago
March 30, 2024
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TurboTax Online

You'll need TurboTax Business to file Forms 1041, but not every Form 1041 needs to be filed. Learn more about trusts from IRS Instructions for Form 1041 and about Foreign Trust Reporting Requirements. You must file Form 1041 for a domestic trust that has:

Any taxable income for the tax year
Gross income of $600 or more (regardless of taxable income)
A beneficiary who is a non-resident alien

How do I file Form 1041 for an estate or trust?

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