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Housoiler
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1041 trust filing question

I filed a 1041 trust tax return and on line 17 of the income part of the income was brought down to line 26 which gave me an over payment on my filing on 7/15/2020. however i complete another sample tax filing for the same scenario and it did not bring income from line 17 to line 26 it was 0 and it showed i owe IRS. can you explain why that happen in TurboTax. Thank

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1041 trust filing question

Line 26 on Form 1041 is derived from Line 17 of Schedule G (essentially tax payments that were made to IRS).

 

Did you enter estimated payments (or have tax withheld) on one return and not the other? 

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2 Replies

1041 trust filing question

Line 26 on Form 1041 is derived from Line 17 of Schedule G (essentially tax payments that were made to IRS).

 

Did you enter estimated payments (or have tax withheld) on one return and not the other? 

Anonymous
Not applicable

1041 trust filing question

line 17 of the income part - are you sure you're talking about the correct line or part because line 17 on page 1 is adjusted total income from which that tax is computed. it has nothing to do with line 26 which are tax payments that come from Schedule G part II line 17.

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