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In general, the term means the excess of gross income from interest, dividends, annuities, royalties, rents, and net gain attributable to the disposition of property, less expenses allocable to such gross income or gain. Under most circumstances, the term is not intended to apply to income derived in the ordinary course of a trade or business or to gains attributable to the disposition of property held in a trade or business. The term was added as Section 1411 to the Code (for taxable years beginning after December 31, 2012) by the Health Care and Education Reconciliation Act of 2010, which imposes a 3.8% tax on "net investment income" of certain individuals, estates and trusts.

Synonyms: NII
Synonyms list (a comma-separated list)
NII