The Internal Revenue Service has released draft instructions for Form 8960, the Net Investment Income Tax that was mandated as part of the Affordable Care Act.

The 3.8 percent Net Investment Income Tax applies to certain net investment income above the statutory threshold amounts of individuals, estates and trusts, beginning with their first tax year beginning on or after Jan. 1, 2013. But it does not affect income tax returns for the 2012 taxable year filed in 2013.

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