We outline polarization performance calculations and predictions for the Daniel K. Inouye Solar Telescope (DKIST) optics and show Mueller matrices for two of the first light instruments. Telescope polarization is due to polarization-dependent mirror reflectivity and rotations between groups of mirrors as the telescope moves in altitude and azimuth. The Zemax optical modeling software has polarization ray-trace capabilities and predicts system performance given a coating prescription. We develop a model coating formula that approximates measured witness sample polarization properties. Estimates show the DKIST telescope Mueller matrix as functions of wavelength, azimuth, elevation, and field angle for the cryogenic near infra-red spectro-polarimeter (CryoNIRSP) and visible spectro-polarimeter. Footprint variation is substantial and shows vignetted field points will have strong polarization effects. We estimate 2% variation of some Mueller matrix elements over the 5-arc min CryoNIRSP field. We validate the Zemax model by showing limiting cases for flat mirrors in collimated and powered designs that compare well with theoretical approximations and are testable with lab ellipsometers.