Turbotax Business for the 1041 (first year) is telling me that the Trust doesn't have to pay estimated taxes in 2017 even though the Trust owes over $3000 tax for 2016 income. I feel the program should walk me through scenarios of what might be expected income in 2017 or tell me why, when we owed so much on rental income last year, that we don't have to pay any estimated taxes in 2017. The program says " A fiduciary must make estimated tax payments if the Trust's tax liability (income tax minus credits) is expected to be at least $1000. Since the tax on Trust income is really high and we've gotten over $4000 in rent in just 2 months, is the program screwing up perhaps??
... View more