Instructions For Form 8960 - Net Investment Income Tax - Individuals, Estates, And Trusts - 2017 Page 15
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20Lines 9 and 10 — Application of Itemized Deduction Limitations on
Deductions Properly Allocable to Investment Income Worksheet
Keep for Your Records
Part I — Application of Section 67 to Deductions Properly Allocable to Investment Income
1. Enter the amount of Miscellaneous Itemized Deductions properly
allocable to investment income before any itemized deduction limitations
(Description and Form 8960 line number where they’ll be reported):
Description
Line
Amount
(a)
(b)
2. Enter the total of all items listed in line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Enter the amount of all Miscellaneous Itemized Deductions after the
application of the section 67 limitation (Schedule A (Form 1040),
line 27) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Enter the lesser of the total reported on line 2 or line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
Part II — Application of Section 67 Limitation to Specific Deductions
(B)
IF line 3 is less than
line 2, THEN divide
line 3 by line 2 AND
enter the amount in
column (B).
(C)
IF amounts reported
Multiply the
on Part I, lines 2 and
individual amounts
4 are equal, THEN
in column (A) by the
(A)
enter 1.00 in column
amount in column
Reenter the amounts and descriptions from Part I, line 1.
(B).
(B).
Description
Line
Amount
(a)
×
=
(b)
×
=
Individuals — Use the amounts in column (C) on Part III, line 1, to determine the amount of these deductions that are
allowable after the application of the section 68 limitation.
TIP
Estates or trusts — Enter the amounts in column (C) in the appropriate location on lines 9 and 10. Don’t complete Parts
III or IV of this worksheet.
Instructions for Form 8960 (2017)
-15-
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