USA Form 8960


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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%.
 
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kirby

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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.
 

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