Identify which of the following statements is true.
A)All trusts and estates must use a calendar year-end.
B)All estates with gross income of at least $500 must file an income tax return.
C)Trusts are required to make estimated tax payments.
D)All of the above are false.

Question

Quizplus · Accepted Answer

Trusts are generally required to make estimated tax payments if they expect to owe $1,000 or more in tax.

Identify Which of the Following Statements Is True