#Good news! The IRS has extended the tax deadline to April 18th! As long as you submit your federal return by midnight on 4/18/2018, you won't be considered a late filer for your federal return. Direct debit tax payments that are submitted with your federal return (or on the IRS website) by 4/18 are also considered timely filed ×

Why do I owe Net Investment Income Tax (NIIT) this year?

You may be subject to the NIIT if you have net investment income and your modified adjusted income exceeds:

  • $200,000 if you’re single or filing as head of household
  • $250,000 if you’re married filing jointly or as a qualified widow(er) with dependent child
  • $125,000 if you’re married filing separately

The NIIT is based on the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold listed above for your filing status. Form 8960 is used to calculate the NIIT.

Credit Karma Tax will automatically calculate the NIIT to determine how much you owe. If you need to make any adjustments to your net investment income, you can enter the amounts on the Net Investment Income Tax screen.

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