Part II of 8960 puts the portion of state tax paid that is related to investment income (which we need to manually calculate). And that amount is being deducted from investment income. Can I still deduct that amount on Sch. A? Total state income tax paid is higher than standard deduction so taxpayer is itemizing.
Can I use state tax paid as a deduction on 8960 (NIIT) and on Sch. A?
byu/TaxCPAs intax
Posted by TaxCPAs