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Selling my business and the Net Inv Inc Tax

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

    Posted 19 days ago
    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

    Posted 19 days ago
    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 17 days ago
    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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