Best Tax Software for Estates and Trusts | Form 1041

The College Investor Audio Show · Feb 28, 2020 · 4m

If you had a loved one who died last year, you may be faced with the need to file taxes for an estate or a trust.

When a person dies, their assets belong to an estate. Any income generated from assets in that estate is income from the estate. If the estate generates more than $600 in income, the estate is responsible for paying income taxes.

This is what you need to know about taxes for estates and trusts. If you're simply looking for the best tax software in general, check out our guide to the best tax software here.