27 Feb 2015 The net investment income tax (NIIT) is a new tax created with the passage of the Patient AGI is found on Line 37 of the Form 1040 tax return. 21 Sep 2014 Additional Medicare Tax (Form 8959) and Net Investment Income Tax (NIIT) ( Form 8960). Both were instituted by the Affordable Care Act (ACA) 23 Jul 2014 Fortunately, the new 3.8% surtax on net investment income applies only to The end result: even types of income not directly subject to the tax end out first taking effect in 2013 and reported on the brand new Form 8960. 16 Jun 2016 To help fund the Affordable Care Act, a 3.8 percent net investment income tax took effect in 2013. The tax, known as the NIIT, is imposed
Net investment income may include rental and royalty income, income from partnerships, S corporations and trusts, and income from other passive activities reported on your Schedule E. Use Form 8960, Net Investment Income Tax, to figure this tax. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have
Line 12100 – Interest and other investment income Report interest and other investment income received. Line 12700 – Capital gains Report a capital gain or loss from selling or transferring capital property. All types of income List of the types of income to report on an income tax and benefit return. Form 1041 Schedule K-1 Box 14H Displays a Negative ... Description Why is there a negative/positive adjustment on my 1041 Schedule K-1, Box 14H- "Adjustment for section 1411 net investment income or deductions"? Solution Description The Fiduciary Schedule K-1, box 14 H calculation is the difference between the Schedule B, line 15 (Income Distribution De IRS issues final instructions for net investment income ... Form 8960 is a dual-purpose form that is used by both individuals and trusts and estates to compute the new 3.8% net investment income tax and then to report the tax on Forms 1040, U.S. Individual Income Tax Return, and 1041, U.S. Income Tax Return for Estates and Trusts.
Avoiding the Net Investment Income Tax | Melton & Melton
Form 8960 is a dual-purpose form that is used by both individuals and trusts and estates to compute the new 3.8% net investment income tax and then to report the tax on Forms 1040, U.S. Individual Income Tax Return, and 1041, U.S. Income Tax Return for Estates and Trusts. 3.8% of What? An Overview of the Net Investment Income Tax Thee IRS issued proposed regulations for the net investment income tax under Sec. 1411 that went into effect on Jan. 1, 2013. At the same time, the IRS released a list of frequently asked questions concerning the net investment income tax.