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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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Form 8997
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AL04
Level 1
10-10-2020
08:53 PM
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2018 realized capital gains that were deferred by investing in QOZ funds in June 2019 (within 180 days after 12/31/18). For completing the 2019 Form 8997, should these capital gains be reported in Part I as QOZ investment holdings at beginning of the year or consider as investment made during 2019 in Part II? Furthermore, taxpayer also used 2019 realized capital gain to make another QOZ investment in June 2020. What part of the Form 8997 should the second QOZ investment be reported?
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