Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit
Virtual · Free
Elevate 2026
Tax Day isn't the finish line — grow your firm at our two-day virtual conference
Free CPE/CE
Intuit
Virtual · Free
Elevate 2026
Tax Day isn't the finish line — grow your firm at our two-day virtual conference
Free CPE/CE
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Re: Form 8997
Form 8997
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Beckyf
Level 2
06-24-2020
10:14 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client invested in more than one QOF in 2019 but the total line only includes the entry on the first line. The total does carry to the Form 8949 for the total deferral of gain, however.
If I override I get a message that the return may not be able to be 3-filed.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
2 Comments 2
dkh
Level 15
06-24-2020
11:14 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
For the record, I've never done this type of transaction but I do use ProSeries Professional. From what I see.... if you select the Schedule D there are two QuickZoom options. The second is for your QOF transaction. Part I line 3 has a check box that needs selected - then your QOF transactions needs entered in Part VIII. Is that how you entered?
Beckyf
Level 2
06-24-2020
11:47 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes, that's how I entered. Also, I just think that ProSeries needs to work on this new Form 8997 because another thing I noticed is that it didn't carry forward last year's QOF gain deferral information which needs to be reported on the form. Also, the names of the QOF's did not get transferred correctly to the form. I will see if I can contact their customer service...
