I'm filing a 'Grantor' Trust for the first time this year. Review the instructions and see how complex the instructions are for the 'type of trust' you are filing. Though Turbotax Business is primitive compared to their standard individual tax preparation software, Turbotax Business is far superior over H&R Block for preparing a 1041 return for a trust.īefore you spend a lot of money for software, I would strongly suggest that you download the 1041 form and the 1041 instructions. (I confirmed this inability to efile with H&R Block Business telephone support.) The H&R Block software did not even allow electronic filing of the 1041. If I didn't have the Turbotax forms to follow, I would have been lost. The 'interview' was lacking and required much more tax knowledge, not asking for the distributions which was necessary information. The H&R Block software was very inferior. However, apparently I purchased a counterfeit version from EBay that would not update the forms (sometimes looking for a bargain is not a real bargain), so the next time I purchased 'H&R Block Premium and Business PC' from for $39.99. Also reported were distributions to 3 beneficiaries of $110 each.įirst I used Turbotax Business. When I say a simple 1041 return, the only entries were $250 of unqualified dividends (really interest) from a Fidelity 109-DIV, $18 of oil royalties on a 1099-Misc, sale of my parents' home (a 1099-S), and the expenses of the tax software. In the process I tried out both Turbotax Business 2019 and H&R Block Business, head to head. I just finished filing for a simple revocable trust to settle the estate of my parents.

1041 tax software for mac