estimated tax penalty / form 2210 / Rev. Rul. 78-158 / trust distributions in next year
For an individual filing a 1040 who receives a K-1 from a trust for a distribution made in the first 65 days of the next tax year but applied to the current individual tax year because of the trust's 663(b) election:
How (procedurally/ideally within TurboTax desktop) does one show the IRS that no estimated tax penalty is owed (or is reduced) because the income from the trust distribution is not deemed to be income in the current tax year because it was not actually received during the tax year. Rev. Rule 78-158, Treas. Reg. 1.6654-2(d)(3)? [edited to correct citation]
I cannot see how to do that on the 2210 or within TT.
Is the only way to do it, to pay the penalty and then amend to request a refund with some attachments citing the revenue ruling, regs, and particular data?
