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Get 2013 Instructions For Form 8960. Instructions For Form 8960, Net Investment Income Tax Individuals
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How to fill out the 2013 Instructions for Form 8960, Net Investment Income Tax Individuals online
Filling out the 2013 Instructions for Form 8960 can seem daunting, but with clear guidance, it becomes manageable. This guide provides step-by-step instructions to ensure you accurately complete Form 8960 for your tax filing needs.
Follow the steps to successfully complete Form 8960.
- Click the ‘Get Form’ button to download the form and open it using your preferred document editor.
- Begin by gathering the necessary financial documents, including your income statements and any relevant investment records.
- Fill out Part I of Form 8960, starting with line 1, where you will report your taxable interest income.
- Continue to line 2 to include ordinary dividends received, and line 3 for annuities from nonqualified plans.
- Proceed to line 4 and enter any modifications necessary for net income or loss derived from non-section 1411 trade or business.
- Fill out lines 5a to 5d to report gains and losses related to disposals of property, ensuring to account for exclusions as necessary.
- Complete Part II by reporting any investment expenses allocable to investment income on lines 9a and 9b.
- Carefully calculate your Modified Adjusted Gross Income (MAGI) in line 13 based on your financial situation.
- At line 14, determine the applicable threshold amount based on your filing status.
- Finally, check all entries for accuracy, then save, download, or print the completed form as needed.
Start filling out your documents online to streamline your tax filing process.
U.S. citizens and residents. Individuals who have for the tax year (a) MAGI that's over an applicable threshold amount, and (b) net investment income, must pay 3.8% of the smaller of (a) or (b) as their NIIT. The applicable threshold amount is based on your filing status.
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