23.03.2023 - 10:23

For net investment income tax, the adjusted gross income threshold for a bankruptcy estate is which of the following? a) $0 b) $125,000 c) $200,000 d) $250,000

Question:

For net investment income tax, the adjusted gross income threshold for a bankruptcy estate is which of the following?

a) $0

b) $125,000

c) $200,000

d) $250,000

Answers (1)
  • Christeen
    April 5, 2023 в 05:44
    The correct answer is a) $0. Net investment income tax applies to individuals, estates, and trusts that have net investment income and modified adjusted gross income above certain thresholds. However, for bankruptcy estates, the adjusted gross income threshold is $0, which means that any amount of net investment income would be subject to the tax. This is because a bankruptcy estate is considered a separate taxable entity and is not allowed to take deductions or exemptions that would reduce its taxable income.
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