What is Form 8960: Net Investment Income Tax - TurboTax-2025

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Form 8960 is a tax form used by individuals, estates, and trusts to report and calculate the Net Investment Income Tax (NIIT) as mandated by the Internal Revenue Service (IRS). The form requires detailed reporting of various types of investment income, expenses, and deductions to determine the taxable amount subject to a 3.8% tax rate. It includes sections for calculating total investment income, allowable deductions, and the final net investment income tax owed.

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What triggers NIIT tax?

What is the net investment income tax? The net investment income tax (NIIT) is a tax that kicks in if you have investment income and your income exceeds $200,000 for single filers, $250,000 for those married filing jointly or $125,000 for those married filing separately. The NIIT tax rate is 3.8%.

What is form 8960 net investment income tax?

Form 8960 is the IRS form used to calculate your total net investment income (NII) and determine how much of it may be subject to the 3.8% Medicare contribution tax.

What is an example of a NIIT tax?

For example, if you earn $100,000 in net investment income and your MAGI exceeds the NIIT limit by $150,000, youll owe 3.8% of the lower amount of $100,000. However, if your MAGI exceeds the threshold by just $50,000, the 3.8% tax would be due on the $50,000. IRS Form 8960 can help you calculate your NIIT liability.

At what income level does the 3.8 surtax kick in?

The threshold is $250,000 for joint filers, $125,000 for married filing separately, and $200,000 for all other filers.

What is excluded from NIit?

The NIIT applies to income from a trade or business that is (1) a passive activity, as determined under 469, of the taxpayer; or (2) trading in financial instruments or commodities, as determined under 475(e)(2). The NIIT doesnt apply to wages, unemployment compensation, or income from an active business.

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What qualifies as net investment income tax?

In general, net investment income includes, but is not limited to: interest, dividends, capital gains, rental and royalty income, and non-qualified annuities. Net investment income generally does not include wages, unemployment compensation, Social Security Benefits, alimony, and most self-employment income.

Does TurboTax file form 8960?

If you have income from investments and your modified adjusted gross income (MAGI) exceeds $200,000 for individuals, $250,000 for spouses filing jointly, and $125,000 for spouses filing separately, well include Form 8960 with your return.

Where do you report net investment income on a tax return?

The estates or trusts portion of net investment income tax is calculated on Form 8960 Net Investment Income TaxIndividuals, Estates, and Trusts and is reported on Form 1041 U.S. Income Tax Return for Estates and Trusts, Schedule G, Line 4.

What is Form 8960: Net Investment Income Tax - TurboTax-2025

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What triggers NIIT tax?

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What qualifies as net investment income tax?

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Where do you report net investment income on a tax return?

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