OK so I have received a K1 from fathers ESTATE that has an amount in 11D and the same amount in 14H. THe K1 is the final year and there was no income just the loss from sale of house.
So now when doing my 1040 I see TT deducting the 11D amount from capital gains but all of a sudden I am thrown into the NIIT category and sadly this year I am over the 250K on other incestment income. So TT is taking MAGI minus 250K and calculating tax. All seems correct calculations BUT I had no income from estate and only capital loss caryover. Is this right am I paying tax on that K1 loss as well as my other investment income. TT is putting the K1 loss on line 7 of 8960 as postive number and so it is bumping my total investment income back up. I hope I explained this OK
Thanks
