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Kathyw2507
Returning Member

Net Investment Income Tax-Form 8960

Turbo Tax Premier includes taxable Social Security benefits in Modified adjusted gross income in Net Investment Income Tax Form 8960.  Social Security income not included in NIIT per IRS website.  How/where do I back it out?

 

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ThomasM125
Expert Alumni

Net Investment Income Tax-Form 8960

Here is the definition of modified adjusted gross income for net investment income tax purposes, per IRS Tax Topic no 559, Net Investment Income Tax :

 

 

Adjusted gross income would include taxable social security income, so that is why TurboTax includes it in their computation of modified adjusted gross income for net investment income tax purposes.

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