I'm reviewing a 2013 filed tax return for an individual (lives in MA). I'm thinking that the previous tax preparer may have mistreated his Sch K-1 income from a sub-S Corp as passive resulting in higher surtax liability.
I don't often see these and I know the net investment income tax is new. I ran this by a CPA colleague and his opinion...
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Net Investment Tax (Form 8960) and Sch K-1 Income
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3.8 % Investment Income Tax/Business Income of Real Estate Professional
Can rental income from a land lease be included in the business income of a real estate professional? Business income is not subject to the 3.8 % investment income tax. Rental income from a land lease is not passive income under IRC 469. Can a real estate professional include a land lease in his activity as a real estate professional?
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