Question

Net Investment Income Tax-Form 8960

Forum|Forum|2 years ago
April 8, 2024
1 reply
0 views

Turbo Tax Premier includes taxable Social Security benefits in Modified adjusted gross income in Net Investment Income Tax Form 8960. Social Security income not included in NIIT per IRS website. How/where do I back it out?

T

ThomasM125

Here is the definition of modified adjusted gross income for net investment income tax purposes, per IRS Tax Topic no 559, Net Investment Income Tax :

Adjusted gross income would include taxable social security income, so that is why TurboTax includes it in their computation of modified adjusted gross income for net investment income tax purposes.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"