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Opportunity fund investment

dasnowball
Level 3

How do you get the deferral of capital gains when taxpayer invests in an opportunity fund.

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sariscpa
Level 4

Use a 1099-B worksheet to create an entry on the 8949. On the 1099-B worksheet double clock on the line entry to get to the capital gain (loss) adjustments worksheet.  Scroll down towards the bottom and check the box for QOF deferral and enter the information on the corresponding lines.  That will create an entry on both the 8949 and the 8997.  Review the 8997.  It's quirky.