Instructions for IRS Form 8960 Net Investment Income Tax - Individuals, Estates, and Trusts

IRS Form 8960 Net Investment Income Tax - Individuals, Estates, and Trusts

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. An up-to-date fillable IRS Form 8960 is available for download through this link.

FAQ

Q: What is IRS Form 8960?A: IRS Form 8960 is a tax form used to calculate and report the Net Investment Income Tax.

Q: Who needs to file IRS Form 8960?A: Individuals, estates, and trusts with certain levels of investment income must file IRS Form 8960.

Q: What is the Net Investment Income Tax?A: The Net Investment Income Tax is a 3.8% tax on certain types of investment income, including interest, dividends, and capital gains.

Q: How do I calculate the Net Investment Income Tax?A: To calculate the Net Investment Income Tax, you need to determine your net investment income and compare it to the threshold amounts set by the IRS.

Q: When is the deadline for filing IRS Form 8960?A: The deadline for filing IRS Form 8960 is usually the same as the deadline for filing your federal income tax return.

Q: Are there any exemptions or exceptions to the Net Investment Income Tax?A: Yes, there are certain exemptions and exceptions to the Net Investment Income Tax. It's best to consult the instructions for Form 8960 or a tax professional for more information.