About this Course
Topics covered include:
Overview of NII Tax, including the threshold amounts;
What is included in the NII tax and what is not;
The impact of the NII on a trade or business;
Passive activity income;
Special rules that apply to net operating losses;
Calculating the NII Tax;
Special Concerns for Trusts and Estates;
How undistributed net investment income of a trust or estate impacts the NII tax;
Figuring the NII tax for an ESBT;
Special reporting for trusts and estates on Form 8960.
Upon completing this course, you should be able to:
Explain the computation of the NII tax;
Discuss reporting rules for the NII tax;
Discuss special rules for trusts and estates.