Question

The net investment income tax is imposed on the _______ of (a) net investment income or (b) the excess of modified _______ over a specific level depending on filing status?

1) Net investment income
2) Modified adjusted gross income
3) Filing status
4) Excess investment income

Answer 1

The net investment income tax is imposed on the net investment income or the excess of modified adjusted gross income over a specific level depending on filing status.

Step-by-step explanation:

The net investment income tax is imposed on the net investment income or the excess of modified adjusted gross income over a specific level depending on filing status.

For example, if a taxpayer's filing status is single, they would be subject to the net investment income tax if their modified adjusted gross income exceeds $200,000.

So, the correct answers are:

1. Net investment income
2. Modified adjusted gross income
3. Filing status