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Level 2
February 22, 2024
Question

Form 1041-ES

  • February 22, 2024
  • 1 reply
  • 5 views

How does one calculate estimated tax payments and print Form 1041-ES for trust clients who do not distribute their income to beneficiaries and therefore have to pay their own taxes?  I see no evidence that Form 1041-ES is even available as a printable form.

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    1 reply

    Level 5
    February 23, 2024

    Assume you mean in Lacerte; go to input Form 12, there is a section for current year ES payments and another to create next year ES payments.

    allencpaAuthor
    Level 2
    February 24, 2024

    On Screen 12 I can calculate the changes in the current year that will occur in the following year, so that the program will calculate the taxable income in the following year on an ES worksheet.  I can't see how it then calculates the tax due on taxable income, or populates a form 1041-ES for the four estimated payments.  Form 1041-ES doesn't even show up as an available form to print.  Two tech support experts scratched their heads over this, and our telephone conferences both timed out without providing a solution.  I'm still stumped.