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New Member
posted Jan 22, 2021 11:54:34 AM

So I try to do my taxes its saying I need a form 8960 I never invested on anything so I'm not sure why its asking for tha

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Expert Alumni
Jan 25, 2021 11:44:55 AM

Form 8960 works by going through the calculation if your modified AGI triggers that it might be applicable.  It can be triggered by income such as interest, dividends, income from rental properties, royalties, and income from trading stocks.  If TurboTax is advising you to wait for the form to be available before you can file your return, then there is a valid reason that is triggering it.  

 

The good news is that when the form becomes available and you are able to file your return, you will not incur a delay in processing since the IRS will not start processing returns until February 12, 2021.

 

To read more about Form 8960, take a look at the following TurboTax article.

 

What is Form 8960: Net Investment Income Tax