Form 1041-QFT vs. Form 1041-a 2023-2024

So, welcome everyone. We're going to spend about half an hour going through completing a 1041 for estates and trusts utilizing the crosslink desktop product offerings. Let's go ahead and discuss the agenda for this call. first of all, I want to start with an overview of what Crossing business includes. While 1041 is the topic for today, I also want to touch upon the different kinds of returns we can do within our business package. After that, we'll have a true introduction to form 1041, which is for federal tax return in the state for its states and trusts. I want to talk about the components of form 1041 and even look at a PDF of the 1041 that the government issues. Then, we'll move on to talking about the basics of form 1041 and how to use the crosslink program to complete it efficiently. Now, let's start with an overview of Crossing business. When we talk about Crossing business, the first thing you need to know is that it provides the ability to complete the following types of federal returns. We introduced this product three or four years ago, and we're excited that it sits on the same platform as our desktop products for 1040. With that, these are the different returns it can take care of: - 1065: Information return pertaining to partnership income - 1120: Corporate income tax returns - 1120s: S Corp income tax returns - 990: Return for federally tax-exempt organization - 1041: Estate and trust federal tax return (which we'll focus on today) Before we delve into the 1041, there are some things to note about all of our business returns. They are all accessible from the business returns tab in the crosslink program. If you don't have access to the business returns tab, please contact your cross-linked account...