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Question

How do I modify the investment income reported on Form 8960?

Answer

Section 1411 investment income is defined differently from investment income for Form 4952. Here are income types considered investment income based on Form 8960 instructions.

• Taxable interest reported on Form 1041, line 1
• Ordinary dividends reported on Form 1041, line 2a
• Annuities from nonqualified plans
• Rental real estate, royalties, and pass through income reported on Form 1041, line 5
• Net gain or loss from disposition of property reported on Form 1041, lines 4 and 7
• Other investment income reported on Form 1041, line 8

Use Screen 8960 in the Taxes folder to modify the amounts (other than interest and dividends) considered investment income.

Related topic: 1041-US: Form 8960 FAQs

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