USA Form 8960

[eaglesfan146]

Am I understanding this correctly? I had a good year in my S Corp. I knew the $300,000 gain would go over to my personal tax and I would pay taxes. I did not know that I am being taxed an extra $7000 for the Net Investment income tax.
Please tell me I did something wrong here.

And of course I made too much to qualify for the 199A 20%.

 

[kirby]

The Net Investment Income Tax was put in years ago to help pay for Obamacare. Anyway, since you said "tell me I did something wrong" it sounds like you did your own return. If so, go have your return redone by a tax pro to see if anything can be done.