. Your client did not dispose of property.attributable to the disposition of property
ortreated as gain from the sale or exchange of property
(877A) the same astreated as sold
? Possibly, even likely, but not necessarily.attributable to the disposition of property
MWEA wrote: Most things in there can be overwritten, but not line 5(a).
Tenletters wrote:Look at the form and instructions. Line 5a has to equal 1040 line 6 plus Schedule 1 line 4. An override for line 5a would be foolish. It would make the return wrong. And it would cause the return to reject for e-file.
This is the whole purpose for line 5b: to back out any amount not subject to NII.
8960 is not a form that gets used all that often. It seems like a lot of people do not understand how it works very well. But if you have clients in that income range you owe it to them to spend some quality time with the instructions as well as the code and regs. The code and regs told you how to determine what is or isn't subject to the NII but you need the form instructions to tell you what that looks like on the tax return.
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