Form 8860-2026

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Form 8860 is used to claim the Qualified Zone Academy Bond (QZAB) credit, which allows eligible taxpayers, such as banks and corporations, to receive an annual income tax credit instead of periodic interest payments for bonds issued by state or local governments to improve public schools. The form includes sections for reporting current year credits and allowable credits, with specific instructions for S corporations and details on how to calculate and report the credit.

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Begin with Part I, Current Year Credit. Fill in the bond issuer’s name, city, and state in column (a). Next, enter the month and year the bond was issued in column (b).
In column (c), input the outstanding principal amount of the bond. For column (d), determine and enter the credit rate based on IRS guidelines.
Calculate the credit by multiplying the amounts from columns (c) and (d) and enter this value in column (e).
If you are a shareholder of an S corporation, complete line 2a instead of line 1. Enter the total credit received from all S corporations.
Proceed to Part II only if applicable. Calculate your allowable credit based on your tax situation as outlined in the instructions.

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Versions	Form popularity	Fillable & printable
2007	4 Satisfied (24 Votes)
2006	4.9 Satisfied (53 Votes)
2005	4.4 Satisfied (38 Votes)
1998	4.8 Satisfied (21 Votes)

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What income is subject to 3.8 net investment?

The NIIT is equal to 3.8% of the net investment income of individuals, estates, and certain trusts. Net investment income includes interest, dividends, annuities, royalties, certain rents, and certain other passive business income not subject to the corporate tax.

Who are US tax-exempt investors?

A docHub source of capital for venture capital and other private equity funds is pension plans, individual retirement accounts, foundations, and endowments. These are all tax-exempt entities under the Internal Revenue Code.

How much investment income is tax free?

Here are the MAGI thresholds for net investment income tax: Filing statusMAGI threshold Single $200,000 Married filing jointly $250,000 Married filing separately $125,000

What is the IRS form 8960 used for?

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 records do I need for form 8960?

Before you begin filling out Form 8960, compile all necessary documents: Financial Statements: Collect your income statements, investment account summaries, and brokerage reports that show dividends, interest, capital gains, and other investment income.

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What is the 8862 form used for?

Form 8862, Information to Claim Earned Income Credit After Disallowance, is needed when your claim for the Earned Income Credit (EIC) has been disallowed or reduced in a previous year.

What income is not subject to net investment income tax?

Net investment income generally does not include wages, unemployment compensation, Social Security Benefits, alimony, and most self-employment income. Additionally, net investment income does not include any gain on the sale of a personal residence that is excluded from gross income for regular income tax purposes.

Form 8860-2026

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