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Level 2
February 27, 2022
Question

Can Other Portfolio and non business income be offset by Section 1411 Net Investment Income or Deductions?

  • February 27, 2022
  • 1 reply
  • 5 views
I am entering a K-1 from an estate and think the entries should net to $0 income but it comes out as income.
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1 reply

sjrcpa
Level 15
February 28, 2022

No. The 1411 items are for purposes of Net Investment Income Tax.

The more I know the more I don’t know.