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TaxAct supports IRS Form 1041 U.S. Income Tax Return for Estates and Trusts.

Certain types of trusts require filing a special tax form which are filed separately from the Form 1041 return. The following forms will not be supported by TaxAct for the 2020 tax year:

  • Form 1041-N U.S. Income Tax Return for Electing Alaska Native Settlement Trusts (Instructions for Form 1041-N)
  • Form 5227 Split-Interest Trust Information Return for Charitable Remainder Trusts and Pooled Income Funds (PIFs must file both Form 1041 and Form 5227.) (Instructions for Form 5227)
  • Form 1041-QFT U.S. Income Tax Return for Qualified Funeral Trusts
  • Form 1120-SF U.S. Income Tax Return for Settlement Funds (Under Section 468B) (File 1041 if a special election to treat the QSF as a grantor type trust is made.) (Instructions for Form 1120-SF)
  • Widely Held Fixed Investment Trust (WHFITs) report all items of gross income and proceeds on the appropriate Form 1099.

Common Trust Funds maintained by a bank do not file Form 1041; instead, the fund may use the TaxAct 1065 program to file Form 1065, U.S. Return of Partnership Income.

Additional Information:

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.

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