Don’t Be a NIIT-Wit:
Getting to Know the Net Investment Income Tax
and IRS Form 8960
Even with the final Section 1411 Treasury Regulations being issued and one tax year behind us, most tax practitioners are still trying to figure out the Net Investment Income Tax (“NIIT”) and its form IRS Form 8960. Despite numerous publications and webinars on the subject, many taxpayers were subject to the new NIIT when they otherwise didn’t need to be if careful planning had taken place.
Join us and nationally renowned CPA, Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA for a practical overview of the NIIT and a line-by-line explanation of how to prepare IRS Form 8960.
This 90-minute teleconference, entitled “Don’t Be a NIIT-Wit: Getting to Know the Net Investment Income Tax and IRS Form 8960”, will include Bob’s insightful analysis of the following key issues:
- Taxation of portfolio investments for individuals and trusts
- Interaction with IRS Form 8582 – Passive Loss Rules
- Reporting real estate income and losses (including self-rental properties)
- Regrouping and Section 469 elections to meet the material participation tests
- Reporting the sale of closely-held businesses
- Reporting passive and non-passive business income
- Computing state income tax deductions for the NIIT
- Computing properly allocable deductions
- Understanding the Section 67 and Section 68 limitations on deductions
- Determining the applicable percentage of net operating losses
- Making the 65-day election
- Determining NIIT DNI for trusts and estates
- Planning distributions for estates and trusts
- And much, much more!