How To Fill Out IRS Form 8997 (For OZ Investors)

[@garliceye]

This was fantastic! Thank you!

[@loucastagna4802]

these instructions for form 8949 are different from the official IRS instructions.

[@kan-juhan3877]

If my capital gain is from selling a rental property (investment property), do I still need to file 8949? The property is under a Family Trust. Shall I put Trust EIN in the EIN column? The same method as you demonstrated? My another question is how to defer AMT ? Thank you.

[@ashusingla5547]

What needs to be filled in column d "special gain code" if capital gains were from stock sale?

[@realtorryantx]

skipped over in the video and not answered, my guess is no one knows

[@aerotech2k]

How do you fill out the 8997 for the first year (2021) if the investor only invested using funds from their savings and not from a sale of any assets? Thanks!

[@ashleytison9828]

If they don't have an eligible gain from the sale of something, they will not be eligible to make a qualifying investment, so they would not complete 8997. Make sure that they don't have a gain from somewhere else that you can match up with their investment.

[@aerotech2k]

@@ashleytison9828 Thank you Ashley. So if they only contributed $50K cash from their savings to the QOF Fund (partnership), when the partnership sells the properties in the future will their only basis be the $50K with no benfit such as a step-up?

[@pocusu702]

Where do you mail Form 8997? IRS doesn't provide any mailing address on this form

[@opportunitydb]

This form should be completed as part of your tax return, and mailed with your return to your normal IRS Center, based on where you live.