Instructions For Form 8960 - Net Investment Income Tax - Individuals, Estates, And Trusts - 2017 Page 8
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20Lines 5a-5d — Net Gains and Losses Worksheet—continued
Keep for Your Records
(A)
(B)
Total of columns (A)+(B)
Capital gains/(losses):
Ordinary gains/
Form 1040, line 13; Form
(losses): Form 1040,
1041, line 4; Form
line 14; Form 1041,
1041-QFT, line 3; Form
line 7; Form
1040NR, statement
1041-QFT, portion of
reflecting U.S. residency
line 4 attributed to
portion of Form 1040,
ordinary gain/(loss);
line 13
Form 1040NR,
statement reflecting
U.S. residency portion
of Form 1040, line 14
3.
Adjustment for gains and losses attributable to the disposition of interests in partnerships and S corporations
(a)
(i) Enter the amount of net gain from the disposition of a
Net
partnership or S corporation included on line 5a to which
Gains
section 1411(c)(4)(A) applies . . . . . . . . . . . . . . . . .
(ii) Enter the amount of net gain included in net investment
income after the application of Regulations section
1.1411-7. (The sum of columns A and B of line 3(a)(ii)
must be less than, or equal to, the sum of columns A and
B of line 3(a)(i).) . . . . . . . . . . . . . . . . . . . . . . . . . .
(iii) Enter the difference between line 3(a)(i) and line 3(a)
(ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)
(i) Enter the amount of net loss from the disposition of a
Net
partnership or S corporation included on line 5a to which
Losses
section 1411(c)(4)(B) applies . . . . . . . . . . . . . . . . .
(ii) Enter the amount of net loss included in net investment
income after the application of Regulations section
1.1411-7. (The sum of columns A and B of line 3(b)(ii)
must be less than, or equal to, the sum of columns A and
B of line 3(b)(i).) . . . . . . . . . . . . . . . . . . . . . . . . . .
(iii) Enter the difference between line 3(b)(i) and line 3(b)
(ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)
(i) Enter the amount of gain recognized in the current year
Deferred
attributable to payments received on an installment sale
Sales
obligation or private annuity that was attributable to the
disposition of an interest in a partnership or an S
corporation in a year preceding the current year. Also
report any gain or loss associated with section 736(b)
payments on this line
. . . . . . . . . . . . . . . . . . . . . .
(ii) Enter the amount of adjustment attributable to such
gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(iii) Subtract line 3(c)(ii) from line 3(c)(i) . . . . . . . . . . . . .
(d)
Combine the amounts on lines 3(a)(iii), 3(b)(iii), and 3(c)
Enter this
(iii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
amount
on line 5c
4.
Sum of items reported on lines 5a–5c
Enter this
Add lines 1, 2(j), and 3(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
amount
on line 5d
If the amount of gain for NIIT purposes is less than the amount of gain for regular income tax purposes, the entry on lines 3(a)(iii), 3(b)(iii),
TIP
or 3(c)(iii) should be a negative number.
If the amount of loss for NIIT purposes is less than the amount of loss for regular income tax purposes, the entry on lines 3(a)(iii), 3(b)(iii),
or 3(c)(iii) should be a positive number.
Instructions for Form 8960 (2017)
-8-
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