Top-Rated Tax Software for Form 1041 in 2022

Are you looking for the best tax software for form 1041? In this article, we’ve provided detailed descriptions of nine tax software platforms to help you speed up your tax processing.

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1. TaxSlayer (Pro Classic/Premium/Web)

TaxSlayer is one of the must-try trust accounting software on the market because it’s affordable and offers Tax Pro assistance. Its free version allows you to do basic tax returns, but if you want tax payment reminders, tips, and resources, opt for one of the more comprehensive packages. Full Review

  • Affordable packages
  • Easy to use platform
  • Allows preparation, print, and e-filing
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TaxSlayer is one of the must-try trust accounting software on the market because it’s affordable and offers Tax Pro assistance. Its free version allows you to do basic tax returns, but if you want tax payment reminders, tips, and resources, opt for one of the more comprehensive packages. Full Review

Speed

5/5

Ease of Use

4/5

Price

3/5

Extra Services

4/5

2. FreeTaxUSA

FreeTaxUSA is designed for first-time taxpayers who are looking for software that’s user-friendly and accurate. All free plans support form 1041 returns and other federal tax preparations. The company also has a Deluxe version for only $6.99, offering audit assistance and priority support with a guaranteed maximum refund. Full Review

  • All plans are free, except for the Deluxe plan
  • Deluxe plan includes audit support
  • You can import your files for free
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FreeTaxUSA is designed for first-time taxpayers who are looking for software that’s user-friendly and accurate. All free plans support form 1041 returns and other federal tax preparations. The company also has a Deluxe version for only $6.99, offering audit assistance and priority support with a guaranteed maximum refund. Full Review

Speed

3/5

Ease of Use

4/5

Price

4/5

Extra Services

5/5

3. H&R Block Tax Software

The H&R Block Tax Software is a cost-efficient estate tax software because it offers affordable plans with 100% satisfaction guaranteed. The company also states that if the software makes an error, the developers will reimburse you. Full Review

  • Software is easy to use
  • Company provides excellent support
  • Fast results
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The H&R Block Tax Software is a cost-efficient estate tax software because it offers affordable plans with 100% satisfaction guaranteed. The company also states that if the software makes an error, the developers will reimburse you. Full Review

Speed

4/5

Ease of Use

4/5

Price

4/5

Extra Services

4/5

4. TaxAct

Users will appreciate TaxAct because the software provides a deduction maximizer to uncover certain qualifying deductions. It also features a MyTax plan that provides easy instructions to follow. The company also offers 100% accuracy and will refund you if errors aren’t detected. Full Review

  • Offers a free plan
  • Secure E-filing solutions
  • Offers tax assistance
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Users will appreciate TaxAct because the software provides a deduction maximizer to uncover certain qualifying deductions. It also features a MyTax plan that provides easy instructions to follow. The company also offers 100% accuracy and will refund you if errors aren’t detected. Full Review

Speed

5/5

Ease of Use

4/5

Price

4/5

Extra Services

5/5

5. Turbotax

Are you looking for the best software for filing estate tax return documents? Then you’ll appreciate how easy Turbotax is to use. Additionally, the platform offers an app for Android and Apple users to do their taxes on the go Full Review

  • Offers tax assistance
  • Offers a free version
  • Has an app for Android and Apple
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Are you looking for the best software for filing estate tax return documents? Then you’ll appreciate how easy Turbotax is to use. Additionally, the platform offers an app for Android and Apple users to do their taxes on the go Full Review

Speed

5/5

Ease of Use

5/5

Price

4/5

Extra Services

3/5

6. Drake Software

Are you looking for software that not only allows you to submit tax returns but also offers you accounting assistance? Drake Software provides plenty of online tools, such as Drake Accounting and Drake Portals. But if you’re simply looking for the fastest tax software download for form 1041, then Drake Software is for you. Full Review

  • Includes e-filing
  • Offers all state packages
  • Suitable for business and individual returns
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Are you looking for software that not only allows you to submit tax returns but also offers you accounting assistance? Drake Software provides plenty of online tools, such as Drake Accounting and Drake Portals. But if you’re simply looking for the fastest tax software download for form 1041, then Drake Software is for you. Full Review

Speed

5/5

Ease of Use

4/5

Price

4/5

Extra Services

3/5

7. efile

Using efile, you can file your tax returns in minutes, saving time. This is ideal if tax season is around the corner and you need fast solutions to assist you. In addition, it’s a well-rated online software for form 1041 for those who aren’t familiar with tax returns of this nature. Full Review

  • Affordable plans
  • You can file electronically or by mail
  • Protects online user data
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Using efile, you can file your tax returns in minutes, saving time. This is ideal if tax season is around the corner and you need fast solutions to assist you. In addition, it’s a well-rated online software for form 1041 for those who aren’t familiar with tax returns of this nature. Full Review

Speed

3/5

Ease of Use

4/5

Price

5/5

Extra Services

4/5

8. Taxwise Online

For professional tax assistance, it’s essential to have a secure online and offline platform that allows you to securely store your clients’ tax documentation. Taxwise online is one of the most popular tax software for trust tax returns because it offers accurate filing and fast returns. Full Review

  • Designed for tax service assistance
  • Quick IRS tax processing
  • Offers software for mobile and desktop devices
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For professional tax assistance, it’s essential to have a secure online and offline platform that allows you to securely store your clients’ tax documentation. Taxwise online is one of the most popular tax software for trust tax returns because it offers accurate filing and fast returns. Full Review

Speed

4/5

Ease of Use

5/5

Price

3/5

Extra Services

4/5

9. Proconnect Tax Online

ProConnect is one of the most sought-after tax software for estate returns because it offers automated data conversion, integrated QuickBooks, and tax reform tools. This platform is suitable for business owners and individuals who need to make a trust tax return. Full Review

  • Affordable plans for businesses and individuals
  • Ideal for freelancers
  • Has QuickBooks integration
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ProConnect is one of the most sought-after tax software for estate returns because it offers automated data conversion, integrated QuickBooks, and tax reform tools. This platform is suitable for business owners and individuals who need to make a trust tax return. Full Review

Speed

5/5

Ease of Use

4/5

Price

4/5

Extra Services

4/5

Our Methodology 

Our team has conducted extensive research on the tax software companies we’ve reviewed below. To show you how we chose these companies, you can take a look at our methodology.

  • Packages: There is tax software that offers various packages. Tax software should include several packages that accommodate those on a budget who need additional services beyond form 1041 returns.
  • Services: Tax software should offer plenty of services, not simply tax assistance on 1041 forms, including services to help with other tax returns and accounting solutions.
  • Ratings and reviews: We’ve selected the top-rated estate and trust planning software for tax form 1041 based on the ratings and reviews from users. In addition, the companies we have chosen have higher ratings and positive customer reviews.
  • Cost-effectiveness: Cost-effectiveness is one of the major factors we considered when choosing the tax return software companies below. These companies are suitable for small- to medium-sized companies and individual users because they offer affordable packages for their services.

Individual Reviews

TaxSlayer (Pro Classic/Premium/Web)
TaxSlayer (Pro Classic/Premium/Web)
TaxSlayer (Pro Classic/Premium/Web)

Best for Freelancers and Contractors

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  • Allows preparation, print, and e-filing
  • Affordable packages
  • Easy to use platform
  • Basic audit support
  • Customer service isn’t ideal

TaxSlayer offers tax and filing solutions to individuals and business owners. With this software, you can file your taxes using any device, such as a tablet or smartphone. The company also informs users of any tax law changes to ensure your filing is 100% accurate.

Best Features

TaxSlayer offers the go-to tax software for IRS form 1041 submissions. It’s also suitable for freelancers and contractors who need digital tax solutions that are quick and easy to use. 

Plans and Pricing 

This platform offers affordable trust tax return plans that people and businesses on a budget can benefit from.

  • Free Plan: This is free tax software for form 1041 and other tax solutions. With this plan, you can upload prior year returns and offers one free federal and state return.
  • Classic: At $17.95, this plan covers all tax situations, including credits and deductions. It also offers you IRS tax assistance for federal returns.
  • Premium: At $37.95, Premium offers phone and email support and assistance from Tax Pro. You can also import your W-2 form, and the software will generate autofill income and wages information.
  • Self Employed: At $47.95, this package is best for freelancers and contractors, as it includes Tax Pro assistance, tax tips, and tax reminders.
FreeTaxUSA
FreeTaxUSA
FreeTaxUSA

Best for Businesses and Individuals on a Budget

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  • 100% accuracy
  • All plans are free, except for the Deluxe plan
  • You can import your files for free
  • Deluxe plan includes audit support
  • Only offers audit support on the Deluxe plan
  • Does not offer unlimited returns on the free plans

FreeTaxUSA is the most affordable tax service on the market because it provides its services for free. It’s an IRS-approved e-file provider that only charges you for state tax returns. Additionally, the company guarantees 100% accuracy, and you can file your 1041 form securely online.

Best Features 

The company offers great value tax software for form 1041 with cheap Deluxe plans and free plans. This software is suitable for businesses and individuals on a budget and is ideal for first-time users because it’s easy to use.

Plans and Pricing 

All the pricing plans are free (except for the Deluxe Return). The company offers:

  • Simple: Supports standard income tax returns and business income, as well as all federal forms, including IRS form 1041.
  • Premium: All significant tax situations are supported for investments, homeownership, and education.
  • Advanced: Supports significant tax situations, including itemized deductions, joint filing, and dependents.
  • Deluxe: For $6.99, this plan supports all significant tax situations and audit assistance and offers unlimited amended returns.
H&R Block Tax Software
H&R Block Tax Software
H&R Block Tax Software

Best for Simple Tax Solutions for Individuals and Business Owners

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  • Fast results
  • Software is easy to use
  • Company provides excellent support
  • Costs extra for tax identity shields
  • Difficult to import documents

The platform of H&R block tax software for 1041 form provides easy-to-use tools and 100% accuracy. In addition, you can store your tax documentation on your computer for safe storage so that you can retrieve them when you need to refer to your files.

Best Features

H&R Block is a top-notch tax software real estate agents can trust to prepare their taxes. It also provides simple tax solutions for individuals and plans for business owners.

Plans and Pricing 

There are four affordable plans for all types of IRS tax solutions.

  • Basic: At $19.95, this plan offers free in-person audit reports, five free federal e-files, and secure online document sharing.
  • Deluxe+State: At $44.95, this plan maximizes deductions and accuracy review checks and assists with all your deductions.
  • Premium: At $64.95, Premium assists with rental property income and expenses.
  • Premium & Business: At $79.95, this plan provides support on business expense reporting and includes one state return.
TaxAct
TaxAct
TaxAct

Best for Freelancers and Small Business Owners

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  • Secure E-filing solutions
  • Offers a free plan
  • Offers tax assistance
  • The other plans may be too expensive for some users
  • Free plan doesn’t offer 1041 tax solutions

Users can utilize TaxAct tax software for 1041 form submissions and other types of federal income tax returns. The company also provides tax advisors to help you file your returns accurately and on time. This software also offers a MyTax Plan for potential refund boosting and user-friendly instructions on filing taxes.

Best Features

There’s a plan for each type of taxpayer. The self-employed plan is the best choice for freelancers and small business owners. For those looking for the most trusted software, the Premier plan is ideal.

Plans and Pricing 

TaxAct offers a free plan and three other paid plans.

  • Free: Provides simple filers and services for dependents, unemployment, and retirement. And it comes with a MyTax plan.
  • Deluxe Plan: At $44.95, this plan is for homeowners, credits, and adjustments. This is a popular choice for tax software for 1041 form submission and includes itemized deductions, adoption credits, and real estate tax software.
  • Premier: At $69.95, this plan is for the sale of homes and rental property, and investments. It’s also for trust tax planning and returns that include stock, gains, and losses.
  • Self Employed: At $79.95, this plan is for freelancers, small business owners, and contractors. It includes deductions for personalized businesses and offers calculated depreciation and freelance income, including 1099-NEC.
Turbotax
Turbotax
Turbotax

Best Tax Software for Real Estate Investors

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  • Offers tax assistance
  • Affordable plans
  • Has an app for Android and Apple
  • Offers a free version
  • Extra expenses for using your refund to pay
  • Turbotax live is expensive

Turbotax is software that allows you to prepare US income tax returns. If you’re not sure how to do taxes on your own, the company provides expert help, or they can do them for you. Additionally, it offers online software for form 1041 for accurate calculations and documentation.

Best Features 

Turbotax’s Premier plan is the go-to tax software for real estate investors because it covers stocks, bonds, and rental property income. Other plans are suitable for the self-employed, such as freelancers or contractors.

Plans and Pricing 

There are four plans, which include a free plan.

  • Free Edition: Filing for federal and state tax is free. This plan also covers W-2 income and unemployed income and has 24/7 support.
  • Deluxe: At $59.00, this plan provides homeowner tax breaks, maximizes tax deductions and credits.
  • Premier: At $89.00, the Premier plan allows you to auto-import your investment and tax data. It also covers stocks, bonds, and rental property income.
  • Self Employed: At $119.00, this plan covers business income and expenses and covers the self-employed 1099-NEC Schedule C.
Drake Software
Drake Software
Drake Software

Best for People Who Want a Quick Way to Receive Federal Tax Returns

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  • Suitable for business and individual returns
  • Includes e-filing
  • Offers all state packages
  • Support is slow
  • Packages are expensive

Drake Software is the most suitable tax software for filing form 1041 because it provides tools that make the tax process hassle-free. The company is also known for its high-quality service and support. What’s more, you can complete your IRS taxes via the cloud or your desktop.

Best Features

Drake Tax is suitable for business owners and individuals who want a quick way to receive federal tax returns. It has one of the best tax sites packed with information about what they offer. Simply choose the plan for the type of tax solutions you need. 

Plans and Pricing 

Drake Software offers three plans. Each plan has a different price and offers different services.

  • Power Bundle: At $1,745, this bundle offers all state packages, e-filing, tax organizers, and tax preparation software for form 1041. It also includes Drake Accounting 2022 and Drake Tax 2021.
  • Unlimited: At $1625, this plan offers everything the Power bundle offers, except the accounting and tax software. It also provides unlimited returns.
  • Pay Per Return: This plan costs $345 (plus $29.99 for additional returns) and includes 15 free returns.
efile
efile
efile

Best for Affordable Packages and Excellent Client Support

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  • Protects online user data
  • Affordable plans
  • You can file electronically or by mail
  • Can’t attach statements
  • Can't use the software for decedent returns

efile provides online tax preparation tools to make tax returns more manageable and more understandable. The software guides you through the complicated tax process, whether you’re submitting for a federal grant program or struggling with unpaid taxes.

Best Features

efile is a real estate tax software that offers affordable packages and excellent client support. It’s suitable for business owners and individuals looking for easy tax software for form 1041.

Plans and Pricing 

There are three plans that have different pricing and features.

  • Fed Return: At $21.00, this plan—for single or joint filing—offers complete filing support and free federal e-filing.
  • Deluxe + Efile: At $19.49, Deluxe + Efile allows you to file with dependents, deducts mortgage interest, and includes retirement income tax returns.
  • Premium Plus: At $34.39, this package includes itemized tax deductions and supports all credit schedules and reports. It also provides telephone support.
TaxWise Online
TaxWise Online
TaxWise Online

Best for Professional Tax Preparers

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  • Offers software for mobile and desktop devices
  • Designed for tax service assistance
  • Quick IRS tax processing
  • Not suitable for individuals on a budget
  • Plans are expensive

Taxwise Online is a platform designed for professional tax preparation services. With this platform, you can access your tax information anytime and anywhere. It allows service providers to store tax documentation in an online vault.  It’s one of the prime software for filing trust tax returns.

Best Features 

Taxwise is one of the most reliable accounting software to use if you’re a professional tax preparer. With comprehensive plans, you can assist clients with their trust planning or special tax return solutions.

Plans and Pricing 

There are four packages that offer more tax solutions than any other type of software.

  • 400 Package: This plan costs $2,740 for a desktop package and $2500 online. It Includes 400 tax returns, federal and state for individual returns, individual e-file, and add-ons, such as Taxwise mobile.
  • Unlimited Package: This plan costs $2,999 for a desktop package and $2,750 for online use. The business desktop version offers business e-filing, and both plans offer US Master Tax guides.
  • 100 Package: This plan costs $1,299 for a desktop package and online versions. It includes 100 tax returns, a central office manager, and e-signatures.
Proconnect Tax Online
Proconnect Tax Online
Proconnect Tax Online

Best for Professional Tax Preparers and Individual Trust Tax Planning

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  • Has QuickBooks integration
  • Affordable plans for businesses and individuals
  • Ideal for freelancers
  • Not an easy platform to use
  • Poor customer service

Pro-connect Tax Online is another platform designed for professional tax preparation. With the integrated planner, you’re able to help your clients plan their taxes. Additionally, it offers pay-as-you-go pricing and QuickBooks online accounts solutions.

Best Features 

The ProConnect Tax software is designed for professional tax preparers and individual trust tax planning.

Plans and Pricing 

This platform is one of the sought-after estate and tax software solutions because of its affordability for professional tax preparers.

  • Individual returns: Between $28.77 and $56.97, this plan includes an e-file for federal, multistate, and municipal returns
  • Business returns: Between $35.98 and $70.78, this plan offers between one and nine returns and provides an e-file for federal, state, municipal, and multistate returns.

Best Tax Software for Form 1041 – Buyer’s Guide

Sometimes tax preparations can be complicated because you must be aware of plenty of technical forms to do your taxes correctly. But there are other forms for estates, such as the form 1041. This section explains what IRS form 1041 is and more about the software you can use to prepare this document.

What Is Form 1041?

Form 1041 is an income tax return filed by a descendant’s living trust or beneficiary after their death. This report includes information on income, losses, deductions, and capital gain.

This form documents the income an estate earns after the owner of the estate passes away. Additionally, IRS form 1041 tracks income before any beneficiary receives assets from the estate. This document must include the following information:

  • Income accumulated or held for future distribution to beneficiaries.
  • Any income liability of the trust or estate.
  • Employment taxes on income paid to household employees.

Is All Tax Software Suitable for Form 1041?

There are many types of tax software for form 1041 on the market, but not all are the same. For example, some software may not provide the same features and specifications you need for proper documentation. In addition, you’ll need tax-preparation services that will allow you to file and do returns quickly.

Ideally, you want the most reliable tax return software that provides data sharing, electronic filing, and automatic expense allocation.

Is This Software Suitable for Individuals, Companies, and Small Businesses?

Tax software platforms offer services to small and large organizations and private individuals looking for a user-friendly way to complete their taxes. Simply find the top-notch business tax software specifically designed for companies or a platform that caters to the individual taxpayer.

Choosing a Tax Software for Form 1041

There are a few factors first to consider when choosing the right tax software for an estate return. First, you want a platform that offers valuable services at a premium price. Next, consider some essential features (below) when looking for software for estate returns and one offering decent tax minimization options.

  • Services and features: Does the software you select only focus on estate and trust tax solutions or offer other services, such as standard deduction or federal support? Ideally, you should also choose a platform that provides 24/7 support in case the app crashes. You may also choose a platform that reminds you when it’s close to tax season and offers you tips and tricks for accurate filing.
  • Ease of use: Select a tax preparation software form 1041 that provides easy-to-use tools. The platform should also be easy to navigate through and must provide cloud computing so that you can do your taxes on the go.
  • Prices: Some companies offer various pricing plans. The more expensive ones are for professional tax preparers who provide their services to clients. The more affordable pricing plans are for the self-employed and anyone who needs help with their taxes. Take a look at our review of Turbotax above for an idea of the various pricing plans based on your tax return requirements.
  • Customer reviews and feedback: You must consider customer reviews before choosing the right software for form 1041. These reviews will give you an indication of whether the software works well based on its customer satisfaction rating.
  • Customer support and service: If you choose software with poor customer support, you won’t get the expected help if the software crashes. Instead, make sure you select a tax software that includes 24/7 support and live chats for immediate assistance.

Is Using Tax Software for Form 1041 a Good Idea?

Many wonder if paying for the best estate and trust tax preparation software is worth it. This section explains why it’s always a good idea to use tax software for form 1041.

  • Avoids Audits: Businesses can get audited by the IRS at any time. But using tax software reduces the need for audits and penalization by the IRS. Tax software is designed to check errors before submitting your taxes. Some software companies will reimburse you if a mistake wasn’t fixed when found.
  • Stores Taxes on Your Computer: Using tax software keeps a record of everything you’ve filed on your computer, which allows you to retrieve and refer to the documents when needed.
  • Time-Saving: Some tax software includes auto-complete solutions—it will automatically fill out your digital forms automatically, which can save time.

Conclusion

Our reviews have addressed the most demanded software for estate tax return. Choose one that’s affordable—such as the Freetaxusa software—or take a look at the review of H&R Block if you’re a professional tax preparer and need a platform to assist clients.

Ideally, you want software that supports form 1041 submissions so that you can submit the tax without errors for a guaranteed accurate return.

FAQ

What is the best tax software to use for form 1041?

Some users say that the best tax software is TaxSlayer or H&R Block because you can use them to file multiple income schedules. This software also provides detailed guidance if you don’t know how to do taxes.

Can I file form 1041 online?

Yes. As of 2011, anyone can file form 1041 online when using tax software that allows it.

What version of TurboTax is needed for form 1041?

To file for form 1041, you need the TurboTax Business CD or business version to do your taxes. This platform is also one of the best tax software for form 1041 submissions.