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Form 8960 Prep: Computing the 3.8% Tax on Net Investment Income (Currently Unavailable)

CPE Credit:

2 hours for CPAs
2 hours Federal Tax Law for CTEC
2 hours Federal Tax Related for EAs and OTRPs

This course examines and explains how to report net investment income, including calculating the tax, properly allocable deductions, Section 67 and 68 limitations on itemized deductions, and the applicable percent of net operating losses available. It includes practical pointers and suggestions on how to help clients manage this tax.

Publication Date: August 2015

Designed For
Tax practitioners assisting clients with the form 8960.

Topics Covered

Form 8960
Net investment income tax
Portfolio investments
Code section 469
Passive income

Learning Objectives

Identify how the 3.8% net investment income tax works and how to prepare Form 8960
Recognize an action plan for 2014 extended returns
Describe tax planning strategies for 2015

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Familiar with current developments in individual taxation.

Advance Preparation
None

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