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March 6, 2019

Net Investment Income Tax

  • March 6, 2019
  • 1 reply
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For 2018, are investment advisory expenses deductible when computing Net Investment Income Tax on Form 8960?
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1 reply

Kathi_at_Intuit
Moderator
March 14, 2019

Great to have you in the community. The miscellaneous investment expenses on line 9c can only be deducted to the extent that these items are deductible on Schedule A. The new tax law has suspended the itemized miscellaneous deduction, these expenses are not deductible on form 8960. I would take a look at Form 8960 instructions pages 14 and 18.

https://www.irs.gov/pub/irs-pdf/i8960.pdf

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