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Get your taxes done using TurboTax
@annettemoyle wrote:
...I'm wanting to know if there's a way to figure out how much her taxes might be and how much we should hold in reserve in her trust account.
I am sorry for your loss.
Was the house held in her trust as well? I presume it was and, if so, and the trust had no tax liability for the 2023 calendar year, then estimated tax payments aren't required.
Estimated tax payments aren't required from:
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An estate of a domestic decedent or a domestic trust that had no tax liability for the full 12-month 2023 tax year;
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A decedent's estate for any tax year ending before the date that is 2 years after the decedent's death; or
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A trust that was treated as owned by the decedent if the trust will receive the residue of the decedent's estate under the will (or, if no will is admitted to probate, is the trust primarily responsible for paying debts, taxes, and expenses of administration) for any tax year ending before the date that is 2 years after the decedent's death.