Checkpoint Learning

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Net Investment Income Tax  

CATEGORY: Taxation
  Online & Mobile
3 CPE Credits

The Net Investment Income Tax (NIIT) is imposed by section 1411 of the Internal Revenue code. It went into effect starting on January 1, 2013. The 3.8 percent NIIT applies to individuals, estates, and trusts that have income above statutory threshold amounts. Since this tax may impact you or your clients, it is important to understand it. This course will examine NIIT and discuss the three categories of net investment income, the potential for tax on that income, and how the choice of entity can affect the tax calculations. It also explains properly allocable deductions and how expenses are allocated to the three categories. This intermediate course is most appropriate for the professional with detailed knowledge in net investment income or the professional seeking to expand his or her knowledge base in the subject.

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