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Form 8960

My income for the year is over the threshold to have to pay NIIT. I also included in my tax returns the 1099-INT for my savings account interest earned. Based on this I should have recieved a form 8960 for the 3.8% tax on the interest income but it is not included. When comparing with another tax software online they do indeed include the form so I am wondering why TurboTax has not included it. 

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2 Replies
ThomasM125
Employee Tax Expert

Form 8960

I suggest you look at your Form 1040 to see what the investment income listed on your form is. You are primarily looking for interest, dividends, capital gains, and rental income. It may be that some of your income is listed in the wrong place or some amounts are not correct. Only your adjusted gross income over $250,000 (joint filer) or $200,000 (single filer) is subject to the additional tax. You will see your investment income included on lines 2 through 7 on the Form 1040 and also on Schedule 1, Part 1. You can view your Form 1040 and schedules 1 to 3 by following these steps:

 

  1. Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
  2. Choose Tools
  3. Choose View Tax Summary
  4. See the Preview my 1040 option in the left menu bar and click on it
  5. Choose the Back option in the left menu bar when you are done
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Form 8960

I am over the income threshold and I do see taxable interest (savings account interest accrued) under 2b. Based on both these conditions I should have a form 8960 but it is not generating. 

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