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The Trust have a rental property.(1st year)
I already have an EIN and need to file Form 1041. (Sch E for the rental property for income/loss, other forms for depreciation,... just like the personal tax return with rental properties)
So the tax return isn't really that complicated that I'm willing to spend that much to do the return,
but it's enough that I want to use one. (I have not research on what form to file for State:MA)

The Question is does anyone know what tax software out there that can do IRS form 1041(not just business since there is a difference like Turbo Tax Home & business which can't do form 1041)
Maybe something like about $40?
the ones that support Fiduciary Trust is HR Block premium and business and Turbo Tax for business.
these doesn't support: TaxAct, completetax.com(try it, it's junk)
worst case is I might have to end to doing it manually.

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check the g00gle

I've never filed the Fiduciary Tax return before, but I did see it listed by two electronic filing companies - TaxWorks.com and Taxsoftware.com They are included in the IRS list of approved vendors.

1041 e-file

It's a pretty straight-forward form. Do you have any specific questions? Most of the numbers come from schedules so I'm not sure how much benefit software that can enter data on 1041 really provides.

the complicate part is probably the Sch E and it's related forms, so sw will make it easier.
and I want to see if it's better to distribute the earning to the beneficiary or not (to see if the tax is lower if paid by the trust or the beneficiary)

what is the forms that I need to file for State return(MA)?

My experience similar to OP's. I need to prepare a couple of simple 1041s (trusts) and 1065s (partnerships) each year. A few years ago, I waited until there was a deal on TurboTax Business, paid something like $60 for it.

Since the basic tax law applicable to these particular entities has not changed, I keep using the old software to prepare subsequent years returns on OLD forms (to make sure I haven't made math mistakes, etc.), then manually transfer to NEW forms. Not the greatest solution, but I am a cheapskate.

tuphat said:   My experience similar to OP's. I need to prepare a couple of simple 1041s (trusts) and 1065s (partnerships) each year. A few years ago, I waited until there was a deal on TurboTax Business, paid something like $60 for it.

Since the basic tax law applicable to these particular entities has not changed, I keep using the old software to prepare subsequent years returns on OLD forms (to make sure I haven't made math mistakes, etc.), then manually transfer to NEW forms. Not the greatest solution, but I am a cheapskate.


So, you file by mail? what about for State?

Actually my backup plan (and it's actually similar to yours ) is to use free eval version
ProSeries (from TurboTax)for 2010 year. (and see how well the sw is.)

@saver4 --

I never, ever, ever file any tax return electronically.

For trusts and partnerships, many (not all) states will accept a copy of the Federal return in lieu of a return on state forms.

Office Depot has H&R Block At Home Premium & Business this week for $64.99 after $15 MIR. In addition to 1040s, it does partnerships, fiduciary, C and S corporations, others.

got the H&R Block At Home Premium & Business at Target
using these
http://www.fatwallet.com/forums/hot-deals/1165666/
if I get the rebate, it'll be about $40+tax (my original target price at Target. )



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