U.S. Income Tax Return for Estates and Trusts

Version A, Cycle 5

2023

Department of the Treasury
Internal Revenue Service

Form 1041-ES (OCR)
Estimated Income Tax for Estates and Trusts
Section references are to the Internal Revenue
Code unless otherwise noted.

Future Developments

2. A decedent’s estate for any tax year
ending before the date that is 2 years after the
decedent’s death; or
3. 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.
The IRS may send preprinted payment
vouchers to estates or trusts that are no
longer in existence or not required to file. In
these cases, the fiduciary should discard the
vouchers.

OMB No. 1545-0971

Line 7. Tax
Electing Alaska Native Settlement Trusts.
Multiply line 6 by 10% (0.10) to figure the
amount of tax to enter on line 7, unless the
trust is expected to have qualified dividends
or a net capital gain for 2023. Use Part IV of
Schedule D of Form 1041-N, U.S. Income Tax
Return for Electing Alaska Native Settlement
Trusts, as a worksheet to figure the 2023 tax
on qualified dividends or net capital gain. See
the Instructions for Form 1041-N at
www.irs.gov/Form1041N for more information.

INTERNAL USE ONLY
DRAFT AS OF
November 16, 2022

For the latest information about developments
related to Form 1041-ES and its instructions,
such as legislation enacted after they were
published, go to www.irs.gov/Form1041ES.

What’s New

Capital gains and qualified dividends. The
maximum tax rate for long-term capital gains
and qualified dividends is 20%. For tax year
2023, the 20% rate applies to amounts above
$14,650. The 0% and 15% rates continue to
apply to amounts below certain threshold
amounts. The 0% rate applies to amounts up
to $3,000. The 15% rate applies to amounts
between the two thresholds.

Purpose of Form

Use this package to figure and pay estimated
tax for an estate or trust. Estimated tax is the
amount of tax an estate or trust expects to
owe for the year after subtracting the amount
of any tax withheld and the amount of any
credits.

Who Must Make Estimated Tax
Payments
Generally, a fiduciary of an estate or trust
must pay estimated tax if the estate or trust is
expected to owe, after subtracting its
withholding and credits, at least $1,000 in tax
for 2023 and can expect its withholding and
credits to be less than the smaller of:
1. 90% of the tax shown on the 2023 tax
return (66 2/3% of the tax if the estate or trust
qualifies as a farmer or fisherman); or
2. The tax shown on the 2022 tax return
(110% of that amount if the estate’s or trust’s
adjusted gross income (AGI) on that return is
more than $150,000, and less than 2/3 of
gross income for 2022 and 2023 is from
farming or fishing).
However, if a return wasn’t filed for 2022 or
that return didn’t cover a full 12 months, item
(2) above doesn’t apply.
For this purpose, include household
employment taxes when figuring the tax
shown on the tax return, but only if:
• The estate or trust will have federal income
tax withheld from any income, or
• The estate or trust would be required to
make estimated tax payments (to avoid a
penalty) even if it didn’t include household
employment taxes when figuring its estimated
tax.
Exceptions. Estimated tax payments aren’t
required from:
1. An estate of a domestic decedent or a
domestic trust that had a full 12-month 2022
tax year and had no tax liability for that year;

How To Figure Estimated Tax

Use the 2023 Estimated Tax Worksheet, the
2023 Tax Rate Schedule, and the estate’s or
trust’s 2022 tax return and instructions as a
guide for figuring the 2023 estimated tax.
If the estate or trust receives its income
unevenly throughout the year, it may be able
to lower or eliminate the amount of its
required estimated tax payment for one or
more periods by using the annualized income
installment method. See Pub. 505, Tax
Withholding and Estimated Tax, for details.

Instructions for 2023 Estimated
Tax Worksheet
Line 4. Exemption
Decedents’ estates. A decedent’s estate is
allowed a $600 exemption.
Trusts required to distribute all income
currently. A trust whose governing instrument
requires that all income be distributed
currently is allowed a $300 exemption, even if
it distributed amounts other than income
during the tax year.
Qualified disability trusts. A qualified
disability trust is allowed a $4,700 exemption.
This amount is not subject to phaseout.
A qualified disability trust is any trust:
1. Described in 42 U.S.C. 1396p(c)(2)(B)(iv)
and established solely for the benefit of an
individual under 65 years of age who is
disabled, and
2. All of the beneficiaries of which are
determined by the Commissioner of Social
Security to have been disabled for some part
of the tax year within the meaning of 42
U.S.C. 1382c(a)(3).
A trust won’t fail to meet (2) above just
because the trust’s corpus may revert to a
person who isn’t disabled after the trust
ceases to have any disabled beneficiaries.
Qualified funeral trusts. No exemption is
allowed to a qualified funeral trust.
All other trusts. A trust not described above
is allowed a $100 exemption.

Cat. No. 23325U

Line 10. Credits

For details on credits the estate or trust may
claim, see the instructions for lines 2a–2d of
Schedule G, Form 1041.

Line 12. Other Taxes

Enter any other taxes such as the following.
• For estates and trusts, the Net Investment
Income Tax (NIIT) is 3.8% of the lesser of the
estate’s or trust’s undistributed net
investment income or the excess of the
estate’s or trust’s AGI over the dollar amount
at which the highest income tax bracket for
estates and trusts begins for such tax year.
For tax years beginning after 2022, the
highest income tax bracket applies to
amounts over $14,450. The NIIT doesn’t apply
to trusts where all of the unexpired interests
are devoted to charitable purposes. For
information about the NIIT, see the
Instructions for Form 8960.
• Tax from recapture of investment credit,
low-income housing credit, qualified electric
vehicle credit, the Indian employment credit,
the new markets credit, or the credit for
employer-provided childcare facilities.
• Tax on accumulation distribution of trusts.
• Tax figured under section 641(c) on income
attributable to S corporation stock held by an
electing small business trust. For details, see
Electing Small Business Trusts in the 2022
Instructions for Form 1041.
Note: For 2023, the highest income tax rate
for trusts is 37%.
Include household employment taxes on
line 12 if:
• The estate or trust will have federal income
tax withheld from any income, or
• The estate or trust would be required to
make estimated tax payments (to avoid a
penalty) even if it didn’t include household
employment taxes when figuring its estimated
tax.

Version A, Cycle 5

When To Make Estimated Tax
Payments
Trusts. The trust may pay all of its estimated
tax by April 18, 2023, or in four equal
installments due by the following dates.
1st installment . . . . . April 18, 2023
2nd installment . . . . . June 15, 2023
3rd installment . . . . . Sept. 15, 2023
4th installment . . . . . Jan. 16, 2024
If the trust has a short tax year, see Notice
87-32, 1987-1 C.B. 477, for the estimated tax
due dates and other information.

8822-B, Change of Address or Responsible
Party — Business.
• Enter in the payment box of the voucher
only the amount the estate or trust is sending
in. When making payments of estimated tax,
be sure to take into account any 2022
overpayment that the estate or trust chose to
credit against its 2023 tax, but don’t include
the overpayment amount in this box.
• Enclose, but don’t staple or attach, a check
or money order with the payment voucher.
Make the check or money order payable to
“United States Treasury.” Write the estate’s or
trust’s EIN and “2023 Form 1041-ES” on the
check or money order. Do not include any
balance due on the 2022 Form 1041 with the
check for 2023 estimated tax.
Fill in the Record of Estimated Tax
Payments and keep it for your files.
No checks of $100 million or more
accepted. The IRS can’t accept a single
check (including a cashier’s check) for
amounts of $100,000,000 ($100 million) or
more. If you’re sending $100 million or more
by check, you’ll need to spread the payments
over two or more checks with each check
made out for an amount less than $100
million. The $100 million or more amount limit
does not apply to other methods of payment
(such as electronic payments), so consider
paying by means other than checks.

tax payment for a previous period is less than
¼ of the amended estimated tax, the estate or
trust may owe a penalty when its return is filed.

When a Penalty Is Applied
In some cases, the estate or trust may owe a
penalty when it files its return. The penalty is
imposed on each underpayment for the
number of days it remains unpaid. A penalty
may be applied if the estate or trust didn’t pay
enough estimated tax or it didn’t make the
payments on time or in the required amount.
A penalty may apply even if the estate or trust
has an overpayment on its tax return.
The penalty may be waived under certain
conditions. See Pub. 505 for details.

INTERNAL USE ONLY
DRAFT AS OF
November 16, 2022

The trust doesn’t have to make the
payment due on January 16, 2024,
TIP if it files the 2023 Form 1041 by
January 31, 2024, and pays the
entire balance due with the return.
Estates. If the estate has adopted a calendar
year as its tax year, file using the rules listed
under Trusts, earlier.
If the estate has adopted a fiscal year, it may
pay all of its estimated tax by the 15th day of
the 4th month of its 2023 tax year or in four
equal installments due on the 15th day of the
4th, 6th, and 9th months of the 2023 tax year,
and the 1st month of the following tax year.
The estate doesn’t have to make
payment due on the 15th day
TIP the
of the 1st month following the
close of the fiscal year if it files the
2023 Form 1041 by the last day of
the 1st month following the close of the fiscal
year, and pays the entire balance due with the
return.
If any date falls on a Saturday, Sunday, or
legal holiday, the installment is due on the
next business day. See Pub. 509, Tax
Calendars, for a list of all legal holidays.
If, after March 31, 2023, or after the last day
of the 3rd month of the fiscal tax year, the
estate or trust has a large enough change in
income to require the payment of estimated
tax, figure the amount of each installment by
using the annualized income installment
method, as explained in Pub. 505.
Farmers and fishermen. An estate or trust
qualifies as a farmer or fisherman if at least
2/3 of gross income for 2022 or 2023 is from
farming or fishing. If the estate or trust
qualifies, do one of the following.

• Pay the total estimated tax (line 16 of the 2023
Estimated Tax Worksheet) by January 16, 2024.
• File Form 1041 for 2023 by March 1, 2024,
and pay the total tax due. In this case, don’t
make estimated tax payments for 2023.
For fiscal year estates, pay the total
estimated tax by the 15th day of the 1st
month following the close of the tax year, or
file Form 1041 by the 1st day of the 3rd
month following the close of the tax year and
pay the total tax due.

How To Complete and Use the
Payment Vouchers
Each payment voucher has the date when the
voucher is due for calendar year estates and
trusts. Be sure to use the correct voucher.
• If the preprinted estate’s or trust’s name,
address, or employer identification number
(EIN) is incorrect and wasn’t previously
corrected, please change it. If you changed
the estate’s or trust’s address, complete Form

Electronic Deposits
A financial institution that has been designated
as an authorized federal tax depositary, and
acts as a fiduciary for at least 200 taxable
trusts that are required to pay estimated tax, is
required to deposit the estimated tax
payments electronically using the Electronic
Federal Tax Payment System (EFTPS).
A fiduciary that isn’t required to make
electronic deposits of estimated tax on behalf
of a trust or an estate may voluntarily
participate in EFTPS. To enroll in or get more
information about EFTPS, visit the EFTPS
website at www.EFTPS.gov or call
800-555-4477. To contact EFTPS using
Telecommunications Relay Services (TRS) for
people who are deaf, hard of hearing, or have
a speech disability, dial 711 and then provide
the TRS assistant the 800-555-4477 number
above or 800-733-4829. Also, see Pub. 966,
Electronic Federal Tax Payment System: A
Guide to Getting Started.
Depositing on time. For a deposit using
EFTPS to be on time, the deposit must be
submitted by 8 p.m. Eastern time the day
before the due date of the deposit.

Where To File
Mail the payment voucher to the address
shown on the right side of the voucher.
Only the U.S. Postal Service can deliver to
this address. Use the window envelopes that
were included with the vouchers.
Do not send the payment voucher to the Internal
Revenue Service Center where you file Form 1041.

Amending Estimated Tax Payments
To change or amend the estate’s or trust’s
estimated tax payments, refigure the total
estimated tax payments due (line 16 of the
2023 Estimated Tax Worksheet). Then use
Worksheet 2-7, Annualized Estimated Tax
Worksheet, in Pub. 505 to figure the payment
due for each remaining period. If an estimated

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Certain Payments of Estimated
Tax Treated as Paid by Beneficiary
The fiduciary (or executor, for the final year of
the estate) may elect to have any portion of its
estimated tax payments treated as made by a
beneficiary (and not as payments made by the
estate or trust).
Such an amount is treated as a payment of
the estimated tax made by the beneficiary on
the January 15th following the end of the tax
year.
Time for making election. The fiduciary must
make the election on the 2023 Form 1041-T,
Allocation of Estimated Tax Payments to
Beneficiaries. The election must be filed on or
before the 65th day after the close of the
estate’s or trust’s tax year. For details, see
section 643(g).
Paperwork Reduction Act Notice. We ask
for the information on the payment vouchers
to carry out the Internal Revenue laws of the
United States. You are required to give us the
information. We need it to ensure that you are
complying with these laws and to allow us to
figure and collect the right amount of tax.
You aren’t required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB control
number. Books or records relating to a form
or its instructions must be retained as long as
their contents may become material in the
administration of any Internal Revenue law.
Generally, tax returns and return information
are confidential, as required by section 6103.
The time needed to complete the
worksheets and prepare and file the payment
vouchers will vary depending on individual
circumstances. The estimated average time is:
Recordkeeping . . . . . . 19 min.
Learning about the
law or the form . . . . . . 15 min.
Preparing the form . . . 1 hr., 43 min.
Copying, assembling,
and sending the form
to the IRS . . . . . . . . . 1 hr.
If you have comments concerning the
accuracy of these time estimates or
suggestions for making this package simpler,
we would be happy to hear from you. You can
send us comments through www.irs.gov/
FormComments. Or, you can write to: Internal
Revenue Service, Tax Forms and
Publications, 1111 Constitution Ave. NW,
IR-6526, Washington, DC 20224.
Do not send the payment vouchers to this
address. Instead, see Where To File, earlier.

Version A, Cycle 5

2023 Estimated Tax Worksheet
1
2
3
4
5
6
7

Keep for Your Records

Enter adjusted total income expected in 2023 . . . . . . . . . . . . . . . . . . .
Enter any expected income distribution deduction . . . . . . . . .
2
Enter any estate tax deduction . . . . . . . . . . . . . . . .
3
Enter exemption. See instructions . . . . . . . . . . . . . . .
4
Add lines 2 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxable income of estate or trust. Subtract line 5 from line 1 . . . . . . . . . . . . . .
Tax. Figure your tax on line 6 by using the 2023 Tax Rate Schedule below. (If the estate or trust
expects a net capital gain or qualified dividends and line 6 is more than zero, use the 2023 Tax
Computation Worksheet Using Maximum Capital Gains Rates to figure the tax.) Electing Alaska
Native Settlement Trusts, see instructions . . . . . . . . . . . . . . . . . . . .

8
9
10
11
12
13

. . . .
. . . .
. . . .
. . . .
. . . .
you expect
. . . .

14a Enter 90% of line 13 (66 2/3% for farmers and fishermen) . . . . . . .
b Enter the tax shown on the 2022 Form 1041 (110% of that amount if the
estate’s or trust’s AGI on that return is more than $150,000, and less than 2/3
of gross income for 2022 and 2023 is from farming or fishing)
. . . . .
15
16

5
6

INTERNAL USE ONLY
DRAFT AS OF
November 16, 2022
Alternative minimum tax . . . . . . . . . . . . . . . . . .
Add lines 7 and 8. Include any tax on lump-sum distributions from Form 4972
Credits (see instructions) . . . . . . . . . . . . . . . . . .
Subtract line 10 from line 9. If zero or less, enter -0- . . . . . . . . .
Other taxes (see instructions) . . . . . . . . . . . . . . . .
2023 estimated tax. Add lines 11 and 12. Reduce this total by any credit
Form 4136 . . . . . . . . . . . . . . . . . . . . . .

c

1

17

.
.
.
.
.
to
.

. .
. .
. .
. .
. .
claim
. .

.
.
.
.
.
on
.

7
8
9
10
11
12
13

14a

14b
Required annual payment. Enter the smaller of line 14a or 14b . . . . . . . . . . . . .
Income tax withheld and estimated to be withheld during 2023 and other refundable credits . . .
Subtract line 15 from line 14c . . . . . . . . . . . . . . . . . . . . . . . .
Note: If line 13 minus line 15 is less than $1,000, the estate or trust isn’t required to make estimated
tax payments.

Installment amount. If the first required payment is due April 18, 2023, enter ¼ of line 16 (minus any
2022 overpayment that you are applying to this installment) here and on the payment line of the
voucher(s). You may round off cents to the nearest whole dollar . . . . . . . . . . . . .

14c
15
16

17

2023 Tax Rate Schedule
Estates and trusts:
If line 6 of the 2023 Estimated
Tax Worksheet above is:
But not
over—

Over—
$0
2,900
10,550
14,450

The tax is:

$2,900
10,550
14,450
------

10%
$290.00 + 24%
2,126.00 + 35%
3,491.00 + 37%

Of the
amount
over—
$0
2,900
10,550
14,450

Record of Estimated Tax Payments

1
2
3
4
Total

.

.

.

.

(b) Check or
money order
number

(a) Date

Payment number

.

.

.

.

.

.

.

.

.

.

.

.

(c) Amount

.

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(d) 2022 overpayment
credit applied

(e) Total amount paid
and credited (add (c)
and (d))

Version A, Cycle 5

2023 Tax Computation Worksheet Using Maximum Capital Gains Rates (Use this computation if the estate or trust expects a net
capital gain or qualified dividends and line 6 of the 2023 Estimated Tax Worksheet is more than zero.)
Caution: Do not include any amounts allocable to the beneficiaries of the estate or trust on lines 2, 3, and 4 below.
1
Enter taxable income (from line 6 of the 2023 Estimated Tax Worksheet) . . . . . . . . .
1
2
Enter the qualified dividends and net capital gain expected for 2023
(Reminder: Do not include any qualified dividends or capital gain from the
disposition of property held for investment that you elect to include in
investment income for investment interest expense purposes.) . . . . .
2
3
Enter the 28% rate gain expected for 2023 . . . . . . . . . . . .
3
4
Enter the unrecaptured section 1250 gain expected for 2023 . . . . . .
4
5
Add lines 3 and 4 and enter the smaller of that sum or the amount of net
capital gain included on line 2 . . . . . . . . . . . . . . . .
5
6
Subtract line 5 from line 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . .
6
7
Subtract line 6 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . .
7
8
Enter the smaller of line 1 or $3,000 . . . . . . . . . . . . . . . . . . . . . .
8
9
Enter the smaller of line 7 or line 8 . . . . . . . . . . . . . .
9
10a Subtract line 2 from line 1. If zero or less, enter -0- . . . . . . . . .
10a
b Enter the smaller of line 1 or $10,550 . . . . . . . . . . . . . .
10b
c Enter the smaller of line 7 or line 10b . . . . . . . . . . . . . .
10c
11
Enter the larger of line 10a or line 10c . . . . . . . . . . . . .
11
12
Tax on amount on line 11 from the 2023 Tax Rate Schedule . . . . . . . . . . . . . .
12
Note: If the amounts on lines 8 and 9 are the same, skip lines 13 through 15 and go to line 16.
13
Enter the amount from line 8 . . . . . . . . . . . . . . . .
13
14
Enter the amount from line 7 . . . . . . . . . . . . . . . .
14
15
Subtract line 14 from line 13. If zero or less, enter -0- . . . . . . . .
15
Note: If the amounts on lines 1 and 8 are the same, skip lines 16 through 37 and go to line 38.
16
Enter the smaller of line 1 or line 6 . . . . . . . . . . . . . .
16
17
Enter the amount from line 15. If line 15 is blank, enter -0- . . . . . . .
17
18
Subtract line 17 from line 16. If zero or less, enter -0- . . . . . . . .
18
19
Enter the smaller of line 1 or $14,650 . . . . .
19
20
Add lines 11 and 15 . . . . . . . . . . .
20
21
Subtract line 20 from line 19. If zero or less, enter -021
22
Enter the smaller of line 18 or line 21
. . . . . . . . . . . . .
22
23
Multiply line 22 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . .
23
24
Enter the amount from line 16 . . . . . . . . . . . . . . . .
24
25
Add lines 15 and 22 . . . . . . . . . . . . . . . . . . .
25
26
Subtract line 25 from line 24. If zero or less, enter -0- . . . . . . . .
26
27
Multiply line 26 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . .
27
Note: If line 5 is zero or blank, skip lines 28 through 37 and go to line 38.
28
Enter the smaller of line 2 or line 4 . . . . . . . . . . . . . .
28
29
Add lines 2 and 11 . . . . . . . . . . . .
29
30
Enter the amount from line 1 . . . . . . . .
30
31
Subtract line 30 from line 29. If zero or less, enter -0- . . . . . . . .
31
32
Subtract line 31 from line 28. If zero or less, enter -0- . . . . . . . .
32
33
Multiply line 32 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . .
33
Note: If line 3 is zero or blank, skip lines 34 through 37 and go to line 38.
34
Enter the amount from line 1 . . . . . . . . . . . . . . . .
34
35
Add lines 11, 15, 22, 26, and 32 . . . . . . . . . . . . . . .
35
36
Subtract line 35 from line 34
. . . . . . . . . . . . . . . .
36
37
Multiply line 36 by 28% (0.28) . . . . . . . . . . . . . . . . . . . . . . . .
37
38
Add lines 12, 23, 27, 33, and 37 . . . . . . . . . . . . . . . . . . . . . . .
38
39
Tax on the amount on line 1 from the 2023 Tax Rate Schedule . . . . . . . . . . . . .
39
40
Tax. Enter the smaller of line 38 or line 39 here and on line 7 of the 2023 Estimated Tax Worksheet .
40

INTERNAL USE ONLY
DRAFT AS OF
November 16, 2022

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