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Form 8997

Level 1

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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