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Selling my business and the Net Inv Inc Tax

  • 1.  Selling my business and the Net Inv Inc Tax

    Platinum Most Valuable Member
    Posted 04-06-2019 16:22
    My client sold a business that he worked in.  is that gain subject to the NIIT ?

    I have been told it is not subject to the tax....

    can someone please clarify...

    Any help appreciated.

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    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Melville NY
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  • 2.  RE: Selling my business and the Net Inv Inc Tax

    Bronze Most Valuable Member
    Posted 04-07-2019 01:43
    That is absolutely correct.

    Vincent J. Preto, CPA
    Senior Partner
    Wagner and Zwerman LLP
    201 Old Country Road, Suite 202
    Melville, NY 11747
    631-777-1000 ext. 340

    Sent from my iPhone




  • 3.  RE: Selling my business and the Net Inv Inc Tax

    Posted 04-08-2019 10:03
    Check out "Disposition of Partnership Interest or S Corporation Stock" on page 4 of Instructions for Form 8960 (2018) to see if you client qualifies.

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    William Oricchio
    WILLIAM ORICCHIO, CPA MS
    Verplanck NY
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