Drake Tax - 1041: Taxable Income But No Tax Computed

Form 1041 shows taxable income, but no tax is computed

If capital gains are included in the return, the calculation may be the result of tax computation using capital gains rates. Qualified dividends may also affect the computation of tax assessed.

In View/Print mode review:

• Schedule D

  • The Schedule D will show the tax computation based on maximum capital gains rates at the bottom of page 2.

• Wks Qual Div.

  • The Wks Qual Div will show the computation of tax and the end result on line 23.

• Form 1041, page 2, Schedule G

  • A table for tax computation is available in the 1041 instructions relating to Schedule G.

For more information on the computation of taxes for a fiduciary (trust, estate) return see the Instructions for Form 1041.