Federal Net Investment Income Tax - Individual, Estates, and Trusts

Net Investment Income Tax - Individual, Estates, and Trusts
2023 Form 8960
Form

8960

Department of the Treasury
Internal Revenue Service

Net Investment Income Tax—
Individuals, Estates, and Trusts

OMB No. 1545-2227

2023

Attach to your tax return.
Go to www.irs.gov/Form8960 for instructions and the latest information.

Attachment
Sequence No. 72
Your social security number or EIN

Name(s) shown on your tax return

Part I

Investment Income

Section 6013(g) election (see instructions)
Section 6013(h) election (see instructions)
Regulations section 1.1411-10(g) election (see instructions)
1
Taxable interest (see instructions) . . . . . . . . . . . . . . . . . . . .
2
Ordinary dividends (see instructions) . . . . . . . . . . . . . . . . . . .
3
Annuities (see instructions) . . . . . . . . . . . . . . . . . . . . . .
4a Rental real estate, royalties, partnerships, S corporations, trusts, trades or
businesses, etc. (see instructions) . . . . . . . . . . . . . . .
4a
b Adjustment for net income or loss derived in the ordinary course of a nonsection 1411 trade or business (see instructions) . . . . . . . . . .
4b
c Combine lines 4a and 4b . . . . . . . . . . . . . . . . . . . . . . .
5a Net gain or loss from disposition of property (see instructions) . . . . .
5a
b Net gain or loss from disposition of property that is not subject to net
investment income tax (see instructions)
. . . . . . . . . . . .
5b
c Adjustment from disposition of partnership interest or S corporation stock (see
instructions) . . . . . . . . . . . . . . . . . . . . . .
5c
d Combine lines 5a through 5c . . . . . . . . . . . . . . . . . . . . .
6
Adjustments to investment income for certain CFCs and PFICs (see instructions) . . . .
7
Other modifications to investment income (see instructions) . . . . . . . . . . .
8
Total investment income. Combine lines 1, 2, 3, 4c, 5d, 6, and 7 . . . . . . . . . .

Part II
9a
b
c
d
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11
12

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1
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3

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4c

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5d
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8

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9d
10
11

Investment Expenses Allocable to Investment Income and Modifications

Investment interest expenses (see instructions) . . .
State, local, and foreign income tax (see instructions) .
Miscellaneous investment expenses (see instructions) .
Add lines 9a, 9b, and 9c . . . . . . . . . . .
Additional modifications (see instructions) . . . . .
Total deductions and modifications. Add lines 9d and 10

Part III

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9a
9b
9c
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Tax Computation

Net investment income. Subtract Part II, line 11, from Part I, line 8. Individuals, complete lines 13–17.
Estates and trusts, complete lines 18a–21. If zero or less, enter -0- . . . . . . . . . . . .

12

Individuals:
13
14
15
16
17

Modified adjusted gross income (see instructions) . . . . . .
Threshold based on filing status (see instructions) . . . . . .
Subtract line 14 from line 13. If zero or less, enter -0- . . . . .
Enter the smaller of line 12 or line 15 . . . . . . . . . . .
Net investment income tax for individuals. Multiply line 16 by 3.8%
on your tax return (see instructions) . . . . . . . . . . .

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13
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14
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15
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(0.038). Enter here and include
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Estates and Trusts:
18a Net investment income (line 12 above) . . . . . . . . . . . . .
18a
b Deductions for distributions of net investment income and charitable
deductions (see instructions) . . . . . . . . . . . . . . . .
18b
c Undistributed net investment income. Subtract line 18b from line 18a (see
instructions). If zero or less, enter -0- . . . . . . . . . . . . .
18c
19a Adjusted gross income (see instructions) . . . . . . . . . . . .
19a
b Highest tax bracket for estates and trusts for the year (see instructions) . .
19b
c Subtract line 19b from line 19a. If zero or less, enter -0- . . . . . . .
19c
20
Enter the smaller of line 18c or line 19c . . . . . . . . . . . . . . . . . . . . .
21
Net investment income tax for estates and trusts. Multiply line 20 by 3.8% (0.038). Enter here and
include on your tax return (see instructions) . . . . . . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 59474M

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Form 8960 (2023)