https://ttlc.intuit.com/community/taxes/discussion/form-8997-your-qoz-liquidates-and-you-re-defer-with-another-company/01/3109027#M1137010 <P>I have a very unique situation. I invested in a QOZ and had to use TaxAct.&nbsp; Well, after two years, the company I invested with decided it was too much hassle and they are liquidating everyone.&nbsp; This means I have to claim the gain this year instead of waiting until 2026 as the law currently allows (there is proposed legislation to extend it to 2028...)</P><P>&nbsp;</P><P>The law as written does not give any provision for a "roll-over" where you keep your original timeline.&nbsp; Basically you have to take the liquidation, but the law allows you to "re-defer" with another company within 180 days.&nbsp; But, you lose your original timeline and you may lose your 10% or 15% exclusion.&nbsp; (If you re-defer by the end of this year, and the law is extended to 2028, you will get the 10% exclusion.)</P><P>&nbsp;</P><P>On the form 8997 itself, you will have to show the liquidation in Section 3 of the 8997.&nbsp; This sends it back to the 8949 for you to claim the gain (and pay taxes).&nbsp; But, you are allowed to "re-defer" (if you invest with another company within 180 days).&nbsp; Re-deferring would send that original gain back to the 8997 in Section 1 under Company 2 name.&nbsp;</P><P>&nbsp;</P><P>My problem is..... I don't think TaxAct Online's software can accommodate a "re-deferral.&nbsp; I called them and they are clueless.&nbsp; Then wanted me to contact "Expert help" (for a fee of course).&nbsp; I explained that "expert help" can only explain the tax law, not the programming, so "expert help" is no help. I need to know if the programming can accommodate a "re-deferral."&nbsp; A gain you originally deferred in 2020 and it's liquidated but you "re-defer" it this year (and start the clock over.....)</P><P>&nbsp;</P><P>There is an option to "give product suggestions." I am going to try that.</P> Tue, 24 Feb 2026 08:05:48 GMT DXS 2026-02-24T08:05:48Z https://ttlc.intuit.com/community/taxes/discussion/form-8997-your-qoz-liquidates-and-you-re-defer-with-another-company/01/3109027#M1137010 <P>I have a very unique situation. I invested in a QOZ and had to use TaxAct.&nbsp; Well, after two years, the company I invested with decided it was too much hassle and they are liquidating everyone.&nbsp; This means I have to claim the gain this year instead of waiting until 2026 as the law currently allows (there is proposed legislation to extend it to 2028...)</P><P>&nbsp;</P><P>The law as written does not give any provision for a "roll-over" where you keep your original timeline.&nbsp; Basically you have to take the liquidation, but the law allows you to "re-defer" with another company within 180 days.&nbsp; But, you lose your original timeline and you may lose your 10% or 15% exclusion.&nbsp; (If you re-defer by the end of this year, and the law is extended to 2028, you will get the 10% exclusion.)</P><P>&nbsp;</P><P>On the form 8997 itself, you will have to show the liquidation in Section 3 of the 8997.&nbsp; This sends it back to the 8949 for you to claim the gain (and pay taxes).&nbsp; But, you are allowed to "re-defer" (if you invest with another company within 180 days).&nbsp; Re-deferring would send that original gain back to the 8997 in Section 1 under Company 2 name.&nbsp;</P><P>&nbsp;</P><P>My problem is..... I don't think TaxAct Online's software can accommodate a "re-deferral.&nbsp; I called them and they are clueless.&nbsp; Then wanted me to contact "Expert help" (for a fee of course).&nbsp; I explained that "expert help" can only explain the tax law, not the programming, so "expert help" is no help. I need to know if the programming can accommodate a "re-deferral."&nbsp; A gain you originally deferred in 2020 and it's liquidated but you "re-defer" it this year (and start the clock over.....)</P><P>&nbsp;</P><P>There is an option to "give product suggestions." I am going to try that.</P> Tue, 24 Feb 2026 08:05:48 GMT https://ttlc.intuit.com/community/taxes/discussion/form-8997-your-qoz-liquidates-and-you-re-defer-with-another-company/01/3109027#M1137010 DXS 2026-02-24T08:05:48Z https://ttlc.intuit.com/community/taxes/discussion/re-form-8997-your-qoz-liquidates-and-you-re-defer-with-another-company/01/3109028#M1137011 <P>This forum is for TurboTax support, not TaxAct. TurboTax does not support Qualified Opportunity Zone investments and does not support Form 8997 at all.</P> <P>&nbsp;</P> Mon, 13 Nov 2023 21:11:38 GMT https://ttlc.intuit.com/community/taxes/discussion/re-form-8997-your-qoz-liquidates-and-you-re-defer-with-another-company/01/3109028#M1137011 rjs 2023-11-13T21:11:38Z