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On the S portion's Form 8960 worksheet, enter the S portion's net investment income on line 7 of the trust's Form 8960 and combine line 19a of the Form 8960 worksheet with the non-S portion's AGI to arrive at the amount on line 19a. See Regulations section 1.1411-3 (c) for more details and examples.
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3 kwi 2022 · Hi - per IRS Instructions for Form 8960 (2021) document "Other items of net investment income not otherwise included on Form 8960 reported on Schedule 1 (Form 1040), line 8z" should go into line 7 for Form 8960.
2022 Form 8960. For Paperwork Reduction Act Notice, see your tax return instructions.
2 lip 2024 · IRS Form 8960, Net Investment Income Tax-Individuals, Estates, and Trusts, is the form that taxpayers use to report net investment income. Form 8960 accompanies the respective taxpayer’s income tax return.
3 dni temu · Form 8960 is used to calculate the net investment income tax (NIIT), a 3.8% tax on the lesser of your net investment income or the excess of your modified adjusted gross income over certain thresholds.
5 kwi 2024 · Learn how to calculate Net Investment Income Tax (NIIT) with IRS Form 8960 for individuals, estates, and trusts. Get IRS instructions and updates. File Form 8960 easily.
