IRS Releases Draft Form for Statement of QOF Investments

Friday, September 27, 2019 - 10:30am

The Internal Revenue Service (IRS) published a draft Form 8997 for the initial and annual statement of qualified opportunity fund (QOF) investments. An investor in a QOF will use Form 8997 to inform the IRS of the QOF investments and deferred gains held at the beginning and end of the current tax year, as well as any capital gains deferred and invested in a QOF and QOF investments disposed of during the current tax year.

The Novogradac 2019 Opportunity Zones Fall Conference in Chicago, Oct. 24-25, will feature discussions on opportunity zones guidance, fund administration and more.