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2. How Much in Taxes Will My Net Investment Income Cost Me? - AOL

   www.aol.com/finance/much-taxes-net-investment...

   Individuals, estates and trusts must pay a 3.8% net investment income tax (NIIT) when their NII goes over specific threshold amounts. For 2024, ...

3. What is the net investment income tax and who has to pay it?

   www.aol.com/finance/net-investment-income-tax...

   Here, Kelly and John would pay $9,500 in NIIT tax, or $250,000 x 0.038 = $9,500. How to avoid the NIIT If you’re worried you might be subject to the extra tax, you have several ways to offset ...

4. Inheriting a Trust: What You Need to Know About Taxes - AOL

   www.aol.com/pay-taxes-trust-inheritance...

   Say you receive a $10,000 distribution one year. When the trust sends you the K-1, you see that $8,000 was from the principal. The IRS presumes this money was already taxed, so you don’t owe ...

5. Internal Revenue Code section 212 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   Internal Revenue Code § 212 (26 U.S.C. § 212) provides a deduction, for U.S. federal income tax purposes, for expenses incurred in investment activities. Taxpayers are allowed to deduct all the ordinary and necessary expenses paid or incurred during the taxable year-- (1) for the production or collection of income;

6. Alternative minimum tax - Wikipedia

   en.wikipedia.org/wiki/Alternative_minimum_tax

   The alternative minimum tax (AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [1] [2]

7. 5 Taxes You Might Owe If You Have a Trust - AOL

   www.aol.com/5-taxes-might-owe-trust-145448249.html

   Dealing with trusts and their tax implications can seem like a labyrinth of legal terms and financial jargon. Trust distributions might be taxable, with the tax liability potentially varying based ...