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Rolly and Leota are married and will file a joint return. They had combined wages of $256,000 in the tax year. This amount included $18,000 in net profit from a rental home. They had no other income or adjustments. What is their net investment income tax

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The net investment income tax of Rolly and Leota combined equals to $540.

What is a net investment income tax?

This refers to the tax that is applicable to income received from investment assets (before taxes) such as bonds, stocks, mutual funds, loans, and other investments.

This net investment income tax was imposed as through the passage of the  Health Care and Education Reconciliation act 2010 and states that the Net investment income tax is liable to 3.80% tax and it applies to individuals have with an NII and MAGI above certain thresholds.

Net investment income tax

= Net profit from rental income * 3.8%

= $18,000 * 3%

= $540

Therefore, the net investment income tax of Rolly and Leota combined equals to $540.

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