Can I e-file all except one form?

Forum|Forum|5 years ago
March 11, 2021
1 reply
16 views

(re-submitting so it shows up as an unanswered question and doesn't look like I've already answered my own question)

that doesn't affect tax liability, and paper file that form?

Last year I paper-filed my federal return because I needed to include form 8997, which TurboTax doesn't support, to defer capital gains due to a Qualified Opportunity Zone investment. This year, I've had no changes, so Form 8997, which I"m required to file again, is just for information purposes - it doesn't impact the tax calculation. May I e-file my federal return without this form and send it to the IRS by mail? I could not find anywhere in TurboTax (Deluxe) to add a statement that I'm doing this, but I could provide such a statement (along with a copy of the first page of the 1040) when I mail the 8997.

thanks

Not A Product Question

Cynthiad66

Level 14

Yes you can mail the form separately.

Form 8997, Initial and Annual Statement of Qualified Opportunity Fund Investments is a new form. You can file your tax return without that, however according the new IRS rule all taxpayers who holds a QOF investment during the tax year must file Form 8997, even if they did not dispose of any QOF investments. It is unclear if there any penalties for not filing the form. Per @npierson7

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lori58sf

Level 4

so do i send form 8997 to the same address as i would if paper-filing return ? and do i just provide first page of return with letter showing e-file date and form 8997 which is just informational for me also for 2020 tax year. that said, TTax really needs to allow file attachment when attachment does not impact tax return calculation.

JeffreyR77

Level 10

No, the instructions for Form 8997 say to attach to your tax return. The form header itself says to Attach to your tax return. Until TurboTax supports the form, if the form is required, the tax return will need to be printed and mailed.

Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments

@npierson7 @Cynthiad66