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IRS Form 8997

2025 Printable Template

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Form last updated: 03/2024. Please verify this is the current version before use.

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What is a 8997 used for?

Form 8997 is used by taxpayers to report their Qualified Opportunity Fund (QOF) investments to the IRS. It is required to track the initial and annual status of these investments, including any deferred gains, to ensure compliance with the Opportunity Zone program.

Who needs to fill out a 8997 form

Taxpayers who hold investments in Qualified Opportunity Funds (QOFs) at any time during the tax year.

How to fill out a 8997 online?

Follow these steps to complete your 8997 form online.

Step 1

Identify all QOF investments at the start and end of the tax year.

Step 2

Report any new QOF investments made during the year.

Step 3

Document any QOF investments sold during the year.

Step 4

Calculate deferred gains and any capital gains included in income.

Step 5

Balance the initial and acquired investments with any dispositions and gains.

Step 6

Double-check all figures for accuracy.

IRS Form 8997 Instructions

Frequently Asked Questions

Find quick answers to common questions about our PDF editor.

What information do I need to report on Form 8997?

You must report QOF investments held at the beginning and end of the year, any deferred capital gains, and QOF investments disposed of during the year.

Do I need to report every QOF investment separately?

No, you only need to report the total value of your QOF investments at the start and end of the year, along with any changes.

Where can I find the necessary information to fill out Form 8997?

You can find the required information in the Instructions for Form 8997 on the IRS website and the Opportunity Zone FAQs page.

What happens if I dispose of a QOF investment during the tax year?

You must report the gain or loss on Form 8949 and Schedule D (Form 1040).

Do I need to file Form 8997 if I did not dispose of any QOF investments?

Yes, you are still required to file Form 8997 to report the QOF investments held at the beginning and end of the year.

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