It went into effect in 2013 and applies when adjusted gross income is over $250,000 for married couples and over $200,000 for single people (trusts and estates are also affected). Net investment income includes interest, dividends, capital gains and rental and royalty income, among other items.
Tax Guidance From BKM Sowan Horan
Don’t get caught off-guard. Call us today at 214-545-3965 or email [email protected] for detailed guidance while there is still time to develop a strategy to minimize this and other taxes for 2014.