The equation of a line is:

Since the line has to be parallel to line y = 4x+1. Hence, m = 4.

Given point is (1,1). Let this be the following:

Substitute the point in.

Convert the equation in a slope-intercept form or function form.
First, distribute 4 in the expression.

Add 1 on both sides.

Hence, the line that is parallel to y = 4x+1 and passes through (1,1) is y = 4x-3