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Investors & landlords
Yes, as you are seeing, that 'extra' income can affect other things on your tax return. Common examples are that some deductions or credits may be reduced, or you are subject to the 3.8% Net Investment Income Tax.
If you look at Lines 17-30 of Form 1040, you should be able to track it down (after seeing what changes, you may need to looked at the numbered Schedules to see what specifically is being changed, and you will need to pay for your return first to see those numbered Schedules).
March 1, 2021
7:55 AM
1,742 Views