Search results
You must file Form 8697 for each tax year in which you completed a long-term contract entered into after February 28, 1986, that you accounted for using either the percentage of completion method or the percentage of completion-capitalized cost method for federal income tax purposes. You also must file Form 8697 for any tax year,
Attach Form 8697 to your tax return. See instructions for where to include this amount on your return. For Privacy Act and Paperwork Reduction Act Notice, see instructions. . . . . . . . . . .
Filing Form 8697 involves several steps and requires detailed information to ensure all necessary information is provided. The form must be filed along with the taxpayer’s annual income tax return. Obtain Form 8697: The form can be downloaded from the IRS website. Ensure you have the correct version for the tax year in which you are filing.
11 wrz 2024 · Form 8697 is used by persons who complete long-term contracts that were accounted for using the percentage of completion or completion-capitalized cost methods to figure the interest due or to be refunded under the look-back method.
This document contains official instructions for IRS Form 8697, Interest Computation Under the Look-Back Method for Completed Long-Term Contracts - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.
Download a fillable version of IRS Form 8697 through the link below or browse more documents in our library of IRS Forms. Easily fill out and download the IRS Form 8697 Interest Computation Under the Look-Back Method for Completed Long-Term Contracts. Available in PDF and Word format.
15 wrz 2023 · If you file a joint return, the signature of both spouses is required on your completed IRS Form 8697. If additional Forms 8697 are needed to show more than 2 redetermination years, sign only the first Form 8697.
