Other Taxes Menu
31 articles
Articles in Other Taxes Menu
Form 1040-NR - Reporting gambling winnings and losses
In general, nonresident aliens are subject to the 30% tax on the gross proceeds from gambling won in the United States if that income is not effectively connected with a U.S. trade or business (ECI) and is not exempted by treaty.
Other Taxes and Recaptures - Net Investment Tax - 8960 - Tax Years 2020 and prior
Use Form 8960 to figure the amount of Net Investment Income Tax (NIIT).
Other Taxes and Recaptures - Additional Medicare Tax - 8959 - Tax Years 2020 and prior
Form 8959 is used to calculate the amount of Additional Medicare Tax owed and the amount of Additional Medicare Tax withheld by a taxpayer’s employer, if any.
Other Taxes and Recaptures - Long-Term Contracts Look-Back Method Interest Computation - 8697 - Tax Years 2020 and prior
Use Form 8697 to figure the interest due or to be refunded under the look-back method of section 460(b)(2) on certain long-term contracts that are accounted for under either the percentage of completion method or the percentage of completion-capitalized cost method.
Other Taxes and Recaptures - Interest Computation Under the Look-Back Method - 8866 - Tax Years 2020 and prior
Tax Processors Plus Desktop includes an entry point for the look-back interest due as calculated on Form 8866 but does not include the form itself.
Other Taxes and Recaptures - Recapture of Plug-In Electric Drive Motor Vehicle - 8936 - Tax Years 2020 and prior
Expired for vehicles acquired after 2017.
Other Taxes and Recaptures - Recapture of Indian Employment Credit - 8845 - Tax Years 2020 and prior
Employers of American Indians who are qualified employees use Form 8845 to claim the Indian employment credit.
Other Taxes and Recaptures - Recapture of New Markets Credit - 8874 - Tax Years 2020 and prior
Use Form 8874 to claim the new markets credit for qualified equity investments made in qualified community development entities (CDEs).
Other Taxes and Recaptures - Recapture of Investment Credit - 4255- Tax Years 2020 and prior
Use Form 4255 to figure the increase in tax for the recapture of investment credit claimed.
Other Taxes and Recaptures - Recapture of Low Income Housing Credit - 8611 - Tax Years 2020 and prior
Other Taxes and Recaptures - Recapture of Qualified Electric Vehicle - 8834 - Tax Years 2020 and prior
A taxpayer may be able to take this credit if they acquired a qualified plug-in electric vehicle after February 17, 2009.
Other Taxes and Recaptures - Recapture of Federal Mortgage Subsidy - 8828 - Tax Years 2020 and prior
The benefit is recaptured by increasing the federal income tax for the year of the sale.
Other Taxes and Recaptures - Other Taxes Tax Years 2020 and prior
Several other taxes may need to be paid on Form 1040.
Form 6251 - Alternative Minimum Tax (AMT)
If the taxpayer is not liable for AMT this year, but they paid AMT in one or more previous years, they may be eligible to take a special minimum tax credit against their regular tax this year.
Form 8828 Recapture of Federal Mortgage Subsidy
Form 8828 is used to figure and report the recapture tax a federal mortgage subsidy if the taxpayer sold or otherwise disposed of the federally subsidized home.
Other Taxes and Recaptures - Tax Years 2020 and prior
Several other taxes may need to be paid on Form 1040.
Recapture of Other Credits
Form 4255 - Recapture of Investment Credit
Use Form 4255 to figure the increase in tax for the recapture of investment credit claimed.
Other Additional Taxes - Tax Years 2021 forward
Recapture of Charitable Contribution Deduction - See Fractional Interest in Tangible Personal Property in IRS Publication 526, Charitable Contributions .
Form 8611 - Recapture of Low-Income Housing Credit
The decrease in the property's basis may result from a change in the eligible basis or the applicable fraction.
Form 8960 - Net Investment Tax
Use Form 8960 to figure the amount of Net Investment Income Tax (NIIT) when modified adjusted gross income (MAGI) is greater than the applicable threshold amount below.
Form 8959 - Additional Medicare Tax
Form 8959 is used to calculate the amount of Additional Medicare Tax owed and the amount of Additional Medicare Tax withheld by a taxpayer’s employer, if any.
Other Taxes Menu - Tax Years 2021 Forward
The Other Taxes Menu can be selected on the left side of the Form 1040 screen and contains several sub-menus.
Other Taxes Menu - Tax Years Prior to 2021
The Other Taxes Menu can be selected on the left side of the Form 1040 screen and contains several sub-menus.
NQDC Interest Determined Under Section 409A(a)(1)(B)(ii)
If a taxpayer receives income from a nonqualified deferred compensation plan (NQDC) that doesn't meet the requirements of 26 USC § 409A, that income will be shown in Form W-2 Box 12 with Code Z or Form 1099-MISC Box 15.