This is the program that we sell to more non-attorneys than all the other
programs in our library put together! The scenario goes something like this.
For years an accountant has charge $350 to put a few numbers in the same old
places on the return, i.e., interest, dividends, etc. After a
few years, the administrator/fiduciaries realize they could easily do the
same thing. So, they buy this program and save the estate or trust $300.
Regardless of the foregoing, we designed this program specifically for small- to medium-sized law offices, as well
as savvy individuals, that prepare simple returns for typical estates and trusts.
In many instances our users tell us they don't need or want the complexity and
added cost of high-price Form 1041 software. For most commonly-filed returns, our U.S. Income Tax for Estates & Trusts
(W1041) program fits the bill perfectly fo them!
The Tax Code requires a fiduciary income tax return to be filed by nearly every
estate or trust with a federal identification number. Specifically, the regulations provide as
follows:
"The fiduciary (or one of the joint fiduciaries) must file Form 1041 for a
domestic estate that has gross income for the tax year of $600 or more."
So, even if you're not handling million dollar estates, it's hard to find one that
doesn't meet the filing criteria described above. At a price of $49.99,
W1041 pays for itself as soon as you do your first return.
Comprehensive List of Included Forms, Schedules & Worksheets
Forms & Schedules:
- Form 1041 U.S. Income Tax for Estates & Trusts
- Schedule A Charitable Deduction
- Schedule B Income Distribution Deduction
- Schedule G Tax Computation
- Schedule I Alternate Minimum Tax
- Schedule J Accumulation Distribution for Complex Trust
- Schedule K-1 Beneficiary's Share (multiple copies)
- Form 1041-A U.S. Information Return—Trust Accumulation of Charitable
Amounts
- Form 1041-ES Estimated Tax Vouchers
- Form 1041-QFT Income Tax Return for Qualified Funeral Trusts
- Form 1041-T Allocation of Estimated Tax Payments
Worksheets:
- Form 1041-ES Estimated Tax
- Schedule D Unrecaptured Section 1250 Gain
- Schedule D Tax Worksheet
- Schedule D Qualified 5-Year Gain
- Schedule D Capital Loss Carryover
- Schedule D 28% Rate Gain
Continuation Schedules:
- Form 1041 Line 1 Interest Income
- Form 1041 Line 2a Dividend Income
- Form 1041 Line 15a—Other Deductions Not Subject to 2%
- Form 1041 Line 15b—Other Deductions Subject to 2%
- Schedule D Short-Term Capital Gains & Losses
- Schedule D Long-Term Capital Gains & Losses
Miscellaneous:
- Complete published IRS Instructions for Form 1041 &
associated Schedules
- Complete IRS Publication 950—Introduction to Estate
& Gift Taxes
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