Form 8960 (Net Investment Income Tax – Individuals, Estates, and Trusts) used for the 3.8% surtax on investment income for the Affordable Care Act. It first appeared in tax year 2013.
If you have income from investments and your modified adjusted gross income (MAGI) exceeds $200,000 for individuals, $250,000 for spouses filing jointly, and $125,000 for spouses filing separately, we'll include Form 8960 with your return.
If your net investment income is $1 or more, Form 8960 helps you calculate the NIIT you might owe by multiplying the amount by which your MAGI exceeds the applicable threshold or your net investment income—whichever is the smaller figure—by 3.8 percent.
TurboTax Online:
- Open your return.
- Click on Tax Tools at the bottom of left-hand column.
- Click on Tools.
- Click on Topic Search.
- Search for 8960.
TurboTax Desktop:
- Open your return.
- Click on Forms in upper right-hand corner of page.
- Click on Open Forms.
- Search for 8960
@sfdallas
[Edited 2/20/23 | 7:42am PST]
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