IRS Publication 550 — Investment Income and Expenses
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“Net investment income tax (NIIT). The NIIT is a 3. 8% tax on the lesser of your net investment income or the amount of your modified adjusted gross income (MAGI) that is over a threshold amount based on your filing status.”
Foreign source income. If you are a U.S. citizen with investment income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt by U.S. law. This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer.
Employee stock options. If you received an option to buy or sell stock or other property as payment for your services, see Pub. 525, Taxable and Nontaxable Income, for the special tax rules that apply.
Disaster relief. Relief is available for those affected by some disasters. See IRS.gov/DisasterT axRelief. Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing & Exploited Children® (NCMEC) . Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1 -800-THE-LOST (1-800-843-5678) if you recognize a child.
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