1041-US: Forcing the calculation of estimates (FAQ)

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Question

How can I force the calculation of UltraTax/1041 estimates? 

Answer

For a decedent's estate

If the estate has been open less than two years by the end of the next tax year, UltraTax/1041 prepares vouchers only if a code has been entered in the Next year declaration field on Screen Est in the Payments folder. If the estate has been open more than two years, the estimates are calculated the same way estimates are calculated for a trust. The two-year period is determined by comparing the date entered in the Date created / decedent's date of death field on Screen 1041 in the General folder to the current year-end date (which for fiscal-year returns is entered in the Tax year: Ending, if other than 12/31 field on Screen 1041).

Forcing estimates when none are required

On Screen Est in the Payments folder, in the Form 1041-ES section, enter code 3 in the Next year declaration field. UltraTax/1041 uses the current-year tax liability, even if the liability is less than $1,000.

Related topics 

1041-US: Estimated taxes FAQs

Next-year estimate declaration (1041)

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