IRS Releases Draft Form 8960:  Net Investment Income Tax - Individuals, Estates, and Trusts

Posted on 08.27.13

Author: Sam Baronian, III, CPA | Tax Senior Associate

The Internal Revenue Service has released the draft Form 8960. The purpose of this form is to compute the 3.8% net investment tax introduced in The Patient Protection and Affordable Care Act also commonly referred to as Obamacare. The Form’s instructions will be released at a later date. The net investment income tax cited in IRC Sec. 1411 affects individuals, estates, and trusts.

For more information on the net investment income tax, please contact your Keiter representative or | 804.747.000.

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

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