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Learn how to calculate and report your Net Investment Income Tax (NIIT) on Form 8960. Find out who must file, what income and deductions are included or excluded, and what records to keep.
Instructions for Form 8960, Net Investment Income Tax Individuals, Estates, and Trusts. 2023. 12/21/2023. Page Last Reviewed or Updated: 08-Oct-2024. Share. The latest versions of IRS forms, instructions, and publications.
Download and print the 2023 Form 8960 to calculate and report the net investment income tax for individuals, estates, and trusts. The form has detailed instructions for each section and line, and explains the elections and adjustments for different types of income and losses.
Essentially, IRS Form 8960 is used to help you figure out if the Net Income Investment Tax applies to you. Here are instructions form Form 8960 : Part 1: Investment Income – In this section, you’ll list the amounts of various types of investment income you may have earned.
2 lip 2024 · Learn how to complete IRS Form 8960 to report and calculate your net investment income tax if your income exceeds a certain threshold. Find out what income and expenses are included or excluded, how to make elections, and where to obtain the form.
This document contains official instructions for IRS Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.
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. Taxpayers should use Form 8960 to figure this tax.
