Affordable Care Act - Individuals
Net Investment Income Tax on
In 2013, the new tax applied to investment income, such as interest and dividends for individuals with income over certain thresholds. There is a 3.8% surtax levied on the lesser of net investment income or the excess of modified adjusted gross income over $250,000 for joint filers and qualified widow's, $200,000 for single filers and $125,000 for married filing separately taxpayers. The Net Investment Income Tax will calculated on new IRS Form 8960 and transfer to Form 1040 line 60.
Need Professional Help?
If you need help with "Affordable Care Act - Individuals" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.