Found out some more information. If..... your QOZ is discontinuing and is NOT being bought out, you are hosed. BUT! If another company is BUYING OUT your QOZ and taking over, you keep your original timeline. And in the instructions for the Form 8997, the IRS makes it clear how to show this,
Beginning balance is Company A with that ID number that you started out with.
DO NOT show any "out and in" unless you actually did withdraw and invest other amounts.
For the ENDING balance (provided you had no changes), you just change the name and ID number to COMPANY B but you say "Formerly Company A." The company I am using for my taxes will automatically put Company A for "ending balance" but you are allowed to "over write" it. It would also help to attach an explanation. The company I am using allows explanations to be attached.
