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dasnowball
Level 4
April 7, 2022
Question

Opportunity fund investment

  • April 7, 2022
  • 1 reply
  • 14 views

How do you get the deferral of capital gains when taxpayer invests in an opportunity fund.

This topic has been closed for replies.

1 reply

sariscpa
Level 5
April 7, 2022

Use a 1099-B worksheet to create an entry on the 8949. On the 1099-B worksheet double clock on the line entry to get to the capital gain (loss) adjustments worksheet.  Scroll down towards the bottom and check the box for QOF deferral and enter the information on the corresponding lines.  That will create an entry on both the 8949 and the 8997.  Review the 8997.  It's quirky.

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