Question

FORM 1411

Forum|Forum|2 years ago
February 12, 2024
2 replies
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DoninGA

Employee

There is no such federal tax Form 1411. What exactly are you trying to do?

R

Rickster2Author

My Wife received a distribution from an annuity, purchased 15 years ago, originally purchased from life insurance proceeds.

How are the taxes determined??

AmyC

Employee

You should have received a form 1099-R for the annuity distribution. It is added to your regular income and will show on your 1040 line 5, pensions and annuities. It is regular income, added in with wages, interest, etc.

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T

TomK2023

The Net Investment Income Tax is imposed by section 1411 of the Internal Revenue Code. The NIIT applies at a rate of 3.8% to certain net investment income of individuals, estates and trusts that have income above the statutory threshold amounts.

For more information: IRS Questions and Answers on the Net Investment Income Tax

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