What is the form used for?
The fiduciary of a domestic decedent's estate, trust, or bankruptcy estate files Form 1041 to report:
- The income, deductions, gains, losses, etc., of the estate or trust.
- The income is either accumulated, held for future distribution, or distributed to the beneficiaries.
- Any income tax liability of the estate or trust.
- Employment taxes on wages paid to household employees.
Is the form Supported in our program? Yes
How to access the form: To access the form, you will need to change the package in the Business software and then start a New Return in the 1041 Package.
Limits to the form: You may only have one copy of this form entered
Solution Articles:
1041-T - Allocation of Estimated Tax Payments to Beneficiaries
Form 1041: Completing the Beneficiary List
IRS Publication:https://www.irs.gov/forms-pubs/about-form-1041
