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Why is form 8960 included in TurboTax when I do not have these types of investments?
It appears that Turbo Tax includes the form for all filers over a certain AGI. However, since the form is not going to be updated until later in the year (2/7/2019?) it is keeping me - and I suspect others - from submitting our returns.
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Investors & landlords
Who Must File
Attach Form 8960 to your return if your
modified adjusted gross income (MAGI) is
greater than the applicable threshold amount.
U.S. citizens and residents.
Individuals who have for the tax year (a) MAGI that’s
over an applicable threshold amount, and
(b) net investment income, must pay 3.8%
of the smaller of (a) or (b) as their NIIT.
The applicable threshold amount is
based on your filing status.
• Married Filing Jointly or Qualifying Widow(er) is $250,000.
• Married Filing Separately is $125,000.
• Single or Head of Household is $200,000.
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The project date for the form to be available is Feb 7, and I would guess that is because of the IRS.
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The IRS rules and instructions for the form are not clear pending clarification form the IRS. (Even though the form instructions are *labeled* 2018 on the IRS website, those are actually the 2017 instructions - seems to be a typo on the website since the 2018 instructions are still pending.
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I received this email from Turbotax but the 8960 form is still not available and updated the software:
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