Tax Court Rules Foreign Tax Credit Cannot Offset NIIT

written by Gina Lee, Senior Associate at CK Tax Services LLC Net Investment Income Tax (“NIIT”) went into effect on January 1, 2013.  NIIT is a 3.8% tax on investment income such as capital gains, dividends, and rental property income, imposed on a portion of your modified adjusted gross income (MAGI) over certain thresholds.  NIIT is an […]

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