How to generate Form 8697 in Lacerte

This article will assist you with generating Form 8697, Interest Computation Under the Look-Back Method for Completed Long-Term Contracts, in the Individual module of Lacerte.

To generate Form 8697 in the program:

1. Go to Screen 85, Interest Comp./Look-Back Method (8697).
2. Enter any applicable fields in the following sections:
   • Interest Computation/Look-Back Method (8697)
   • Completed Long-Term Contracts
   • Adjustments from Flow-Through Entities