3.8 Net Investment Income Tax 2018 - petalsandquill.com

2018 Form 8960 - Internal Revenue Service.

2018 Instructions for Form 8960 Net Investment Income Tax—Individuals, Estates, and Trusts Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Form 8960 and its instructions, such as legislation. Mar 27, 2018 · The Net Investment Income Tax NIIT is an extra 3.8% levy on certain investment income for high-wage earners. It's been around since 2013 but. Net investment income tax for estates and trusts. Multiply line 20 by 3.8% 0.038. In the case of an estate or trust, the NIIT is 3.8 percent on the lesser of: A the undistributed net investment income, or B the excess if any of: the adjusted gross income over the dollar amount at which the highest tax bracket begins for an estate or trust for the tax year. For estates and trusts, the 2018 threshold is $12,500.

• For more information on the Net Investment Income Tax refer to T ax filing FAQ. • Given the complexity of the 3.8% tax, if this tax is applicable for you based on the guidelines above, we encourage you to work with a qualified tax professional to understand how this 3.8% tax may impact your specific situation and address your questions. The Heath Care and Education Reconciliation Act of 2010 added Section 1411 to the Code, effective December 31, 2012. Section 1411 imposes a non-deductible 3.8% tax on net investment income of individuals, estates and trusts that have income above specified thresholds as follows. Jun 21, 2018 · Also, for both types of capital gains, it's worth noting that the 3.8% net investment income tax that applies to certain high earners will stay in place, with the exact same income thresholds.

The net investment income tax is an additional 3.8% tax on investment income if an individual makes over $200,000 or a couple makes over $250,000. Oct 15, 2013 · Your bill for the 3.8% tax will be $5,700 3.8% x $150,000. Your exposure to the 3.8% tax mainly depends on your net investment income level because that number is.

Jul 23, 2014 · Executive Summary. As the 2013 tax preparation season wound to a close in April of this year, many investors discovered for the first time a costly new line item on their tax return: “Other Taxes” on Line 60 of their Form 1040, where they reported the new 3.8% “Medicare surtax” on net investment income that just took effect in the past year. Jun 04, 2014 · The new 3.8% Medicare or 3.8% Net Investment Income Tax is a glaring example of the rising complexity of the tax code. The Tax form 8960 - Net Investment Income Tax— Individuals, Estates, and Trusts is a one page form with 20 pages of instructions! This is a very brief overview of the tax and its implications on the taxpayers. Since the modified adjusted gross income exceeds the threshold amount of $200,000 for single taxpayers by $90,000, while the net investment income is $120,000, the 3.8% NIIT rate applies only on the lesser amount of $90,000 for an NIIT of $3,420. For those in the highest tax bracket, the tax rate is 23.8%, including the 3.8% Net Investment Income Tax, associated with the Patient Protection and Affordable Care Act. Who this affects: Investors with taxable portfolios that generate dividends or where investment sales are being considered.

Designed to help fund the Affordable Care Act “Obamacare”, it imposes a 3.8% tax on certain investment income, including most rental income. Specifically, it is equal to 3.8% of the lesser of two amounts: 1 net investment income or 2 the excess of modified AGI over a threshold amount.

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