IRS Form 8960 walkthrough (Net Investment Income Tax)

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  • เผยแพร่เมื่อ 1 ก.ค. 2024
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ความคิดเห็น • 2

  • @rosalindhb
    @rosalindhb หลายเดือนก่อน

    I would love to see how to fill out the form showing that you rolled a payout back into a 401k/IRA to avoid penalty.

    • @teachmepersonalfinance2169
      @teachmepersonalfinance2169  หลายเดือนก่อน

      A couple of notes:
      1. Early withdrawals from a retirement account would be reported on IRS Form 5329, Additional Taxes (see below).
      2. I can't really think of a video that I could create where I walk through the tax form to *not* report income. The closest example that I can think of would be a 60-day rollover between retirement accounts. But even then, that would be reported on your Form 1040, not on Form 8960.
      Is there a specific situation that qualifies for an early withdrawal exception, that you'd want to see a video on? It might be a couple of weeks before I can do the video.
      IRS Form 5329, Additional Taxes on Qualified Plans and Other Tax-Favored Accounts
      Article: www.teachmepersonalfinance.com/irs-form-5329-instructions/
      Video: th-cam.com/video/Hc6mh1-toUU/w-d-xo.html