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To date, there has never been a tax on investment income. Beginning January 1, 2013, most of us now realize that there will be a 3.8% net investment income tax on at least a portion of the gain when you have capital gains, ordinary interest, dividends and rental income.
Basically, individuals will owe the tax if they have Net Investment Income and also have modified adjusted gross income over the following thresholds:
|
Filing Status |
Threshold Amount |
| Married filing jointly |
$250,000 |
| Married filing separately |
$125,000 |
| Single |
$200,000 |
| Head of household (with qualifying person) |
$200,000 |
| Qualifying widow(er) with dependent child |
$250,000 |
If you are an individual who is exempt from Medicare taxes, you still may be subject to the Net Investment Income Tax if you have Net Investment Income and also have modified adjusted gross income over the applicable thresholds.
Trusts and Estates will also be affected.
– Adam Lucas, EA, RTRP
Credo Financial Services, LLC
See the IRS link for more info: http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs
He has accrued broad financial experience working with companies ranging in revenues from $50,000 to $60 billion.Dan has worked with technology services, software, real estate, retail, manufacturing companies, professional services firms, marketing/advertising agencies, dental practices, medical practices, and various other industries, providing each with the specific financial guidance needed to establish sustained business growth and financial health.