2022-2024 Form

Instructions and help about What Is Form 8960 Net Investment Income Tax TurboTax

IRS form 8960 which helps taxpayers calculate net investment income tax for individuals Estates and trusts so we're going to briefly review this one page form and then we're going to go through some of the form instructions and then once we've gone through the form instructions we'll actually go through this a little bit more detail line by line so there are three parts to this form there is the part one which is your investment income part two which is investment in expenses allocable to investment income and modifications and then part three is the actual tax computation the first question most people have is who needs to complete IRS form 8960 and for that there are a couple of things we're going to look up in the form in the form instructions so for any tax form you can always find detailed instructions on the IRS website so the first thing to note is that individuals who have a modified adjusted gross income that's over a certain threshold and net investment income must pay 3.8 pe