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Can NIIT be added under "taxes you paid" on Schedule A? Separately, can NII be reduced by State Income Tax paid in the prior or current year (or tax due but unpaid)?
On the second Q about whether state income taxes can be deducted from Net Investment Income, please indicate as to what percentage of the taxes can offset the income. Thanks
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May 31, 2019
6:24 PM
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After you file
1) No.
2) Yes. It is not necessarily a specific percentage, but see the Instructions for Form 8960, specifically for Line 9b and "Reasonable method allocations" to determine the amount. https://www.irs.gov/instructions/i8960/ch02.html#d0e2068
May 31, 2019
6:24 PM