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New Member
posted May 31, 2019 5:36:23 PM

Is NIIT in addition to the AMT and not considered when calculating AMT ?

1 5 4467
5 Replies
New Member
May 31, 2019 5:36:25 PM

Yes, the Net Investment Income Tax is a tax separate from both our Regular and Alternative Minimum Tax (AMT) systems and is calculated after these main taxes are calculated and reduced by non-refundable tax credits.

It is reported on Form 8962 and on Form 1040 Line 62 for Additional and Other Taxes.

New Member
May 31, 2019 5:36:28 PM

So a second tax on the same items ?

New Member
May 31, 2019 5:36:29 PM

Yes, if you are required to pay the Net Investment Income Tax based on your income level, this is an ADDITIONAL 3.8% tax on the lesser of your net investment income, or the excess of your modified adjusted gross income over the threshold required for paying this tax.

New Member
May 31, 2019 5:36:31 PM

UGH !!  Thank you

Level 13
May 31, 2019 5:36:33 PM

"The 3.8 percent tax applies to the lesser of 1) net investment income or 2) the excess of the taxpayer’s MAGI over the threshold. It must be paid in addition to a taxpayer’s regular income tax liability, or if applicable, alternative minimum tax liability."

http://www.mossadams.com/articles/2014/february/net-investment-income-tax?feed=1d55098d-7994-4ede-94...

Tom Young