Federal Free Printable Form 8697 (Rev. December 2011) for 2017 Federal Interest Computation Under the Look-Back Method for Completed Long-Term Contracts

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2016-federal-form-8697.pdf, and you can print it directly from your computer.

Interest Computation Under the Look-Back Method for Completed Long-Term Contracts
Form 8697 (Rev. December 2011)

Form 8697 (Rev. December 2011) Department of the Treasury Internal Revenue Service Interest Computation Under the Look-Back Method for Completed Long-Term Contracts For the filing year beginning Type or Print ▶ OMB No. 1545-1031 Attachment Sequence No. See separate instructions. , and ending 97 . See page 4 of the instructions. Name A Identifying number Number, street, and apt., room, or suite no. If a P.O. box, see page 4 of the instructions. B Check applicable box to show type of taxpayer: City or town, state, and ZIP code Corporation S corporation Individual Partnership Estate or trust C If you were an owner of an interest in a pass-through entity (such as a partnership or an S corporation) that holds one or more long-term contracts to which this interest computation relates, enter the name and employer identification number of the entity. Attach a schedule if there is more than one such entity. Employer identification number Name of entity Part I 1 Regular Method (see instructions) Taxable income or loss for the prior years shown on tax return (or as previously adjusted) before net operating loss or capital loss carrybacks (other than carrybacks that must be taken into account to properly compute interest under section 460) (see page 4 of the instructions). If you were required to file Form 8697 for an earlier year, enter adjusted taxable income for the prior years from line 3, Form 8697, for the most recent filing year that affects the prior years . Filing Year Redetermination Years Year ended mo. yr. mo. (c) Totals (a) (b) (Add columns (a) Year ended Year ended and (b).) yr. mo. yr. 2 Adjustment to income to reflect the difference between: (a) the amount of income required to be allocated for post-February 1986 contracts completed or adjusted during the tax year based on the actual contract price and costs, and (b) the amount of income reported for such contracts based on estimated contract price and costs. See page 4 of the instructions and attach a schedule listing each separate contract, unless you were an owner of an interest in a pass-through entity reporting this amount from Schedule K-1 or a similar statement . 3 Adjusted taxable income for look-back purposes. Combine lines 1 and 2. If line 3 is a negative amount, see instructions . . . . . . . . . . . . . . 4 Income tax liability on line 3 amount using tax rates in effect for the prior years (see page 4 of the instructions) . 5 Income tax liability shown on return (or as previously adjusted) for the prior years (see page 4 of the instructions). If you were required to file Form 8697 for an earlier year, enter the amount required to be reported on line 4, Form 8697, for the most recent filing year that affects the prior years . . . . . . . . . . 6 Increase or decrease in tax for the prior years on which interest is due (or is to be refunded). Subtract line 5 from line 4 . . . . . . . . . . . . . . . 7 Interest due on increase, if any, shown on line 6 (see page 4 of the instructions) . . . . . . . . . 8 Interest to be refunded on decrease, if any, shown on line 6 (see page 4 of the instructions) . . . . . . . 9 Net amount of interest to be refunded to you. If line 8, column (c), exceeds line 7, column (c), enter the excess. File Form 8697 separately; do not attach it to your tax return (see page 5 of the instructions) . . . . . . . . . 10 Net amount of interest you owe. If line 7, column (c), exceeds line 8, column (c), enter the excess. Attach Form 8697 to your tax return. See page 5 of the instructions for where to include this amount on your return . . . . . . For Privacy Act and Paperwork Reduction Act Notice, see page 7 of the instructions. Cat. No. 64598V Form 8697 (Rev. 12-2011) Form 8697 (Rev. 12-2011) Part II 1 2 Page 2 Simplified Marginal Impact Method (see instructions) Adjustment to regular taxable income to reflect the difference between: (a) the amount of such income required to be allocated for post-February 1986 contracts completed or adjusted during the tax year based on actual contract price and costs, and (b) the amount of such income reported for such contracts based on estimated contract price and costs. See page 6 of the instructions and attach a schedule listing each separate contract, unless you were an owner of an interest in a pass-through entity reporting this amount from Schedule K-1 or a similar statement . . . Date of each prior year to which interest computation relates: (d) Totals (a) (b) (c) (Add columns (a), Year ended Year ended Year ended (b), and (c).) mo. yr. mo. yr. mo. yr. Increase or decrease in regular tax for prior years. Multiply line 1 in each column by the applicable regular tax rate (see page 6 of the instructions) . . . . . . . . Note: For prior years beginning before 1987, skip lines 3 and 4 and enter on line 5 the amount from line 2. 3 Adjustment to alternative minimum taxable income to reflect the difference between: (a) the amount of such income required to be allocated for post-February 1986 contracts completed or adjusted during the tax year based on actual contract price and costs, and (b) the amount of such income reported for such contracts based on estimated contract price and costs. See page 6 of the instructions and attach a schedule listing each separate contract, unless you were an owner of an interest in a pass-through entity reporting this amount from Schedule K-1 or a similar statement . . . 4 Increase or decrease in alternative minimum tax (AMT) for prior years. Multiply line 3 in each column by the applicable AMT rate (see page 6 of the instructions) . 5 Enter the larger of line 2 or line 4. See page 6 of the instructions if either amount is negative . . . . . 6 Pass-through entities: Skip line 6 and enter on line 7 the amount from line 5. Overpayment ceiling. For each column in which line 5 is a negative number, enter your total tax liability for the prior year, as adjusted for past applications of the look-back method and after net operating loss, capital loss, net section 1256 contracts loss, and credit carryovers and carrybacks to that year. For each column in which line 5 is a positive number, leave line 6 blank and enter on line 7 the amount from line 5 7 Increase or decrease in tax for the prior years on which interest is due (or is to be refunded). Enter the amount from line 5 or line 6, whichever is smaller. Treat both numbers as positive when making this comparison, but enter the amount as a negative number . 8 Interest due on increase, if any, shown on line 7 (see page 6 of the instructions) . . . . . . . . . . . 9 Interest to be refunded on decrease, if any, shown on line 7 (see page 6 of the instructions) . . . . . . . 10 Net amount of interest to be refunded to you. If line 9, column (d), exceeds line 8, column (d), enter the excess. File Form 8697 separately; do not attach it to your tax return (see page 6 of the instructions) . . . . . . . . . 11 Net amount of interest you owe. If line 8, column (d), exceeds line 9, column (d), enter the excess. Attach Form 8697 to your tax return. See page 6 of the instructions for where to include this amount on your return . . . . . . Signature(s) Complete this section only if this form is being filed separately. Sign Here Paid Preparer Use Only Under penalties of perjury, I declare that I have examined this form, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. ▶ Your signature Date Spouse's signature. If a joint return, both must sign Date Print/Type preparer’s name Preparer's signature Date Check if self-employed Firm’s name ▶ Firm's EIN Firm's address ▶ Phone no. PTIN ▶ Form 8697 (Rev. 12-2011)
Extracted from PDF file 2016-federal-form-8697.pdf, last modified January 2003

More about the Federal Form 8697 Other TY 2016

We last updated the Interest Computation Under the Look-Back Method for Completed Long-Term Contracts in May 2017, so this is the latest version of Form 8697, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form 8697 directly from TaxFormFinder. You can print other Federal tax forms here.

Other Federal Other Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 8962 Premium Tax Credit
Form 12277 Application for Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien (Internal Revenue Code Section 6323(j))
Form 8840 Closer Connection Exception Statement for Aliens
Form 14039 Identity Theft Affidavit
Form 13844 Application For Reduced User Fee For Installment Agreements

Download all  tax forms View all 775 Federal Income Tax Forms


Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8697 from the Internal Revenue Service in May 2017.

Show Sources >

Historical Past-Year Versions of Federal Form 8697

We have a total of four past-year versions of Form 8697 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form 8697

Form 8697 (Rev. December 2011)

Interest Computation Under the Look-Back Method for Completed Long-Term Contracts 2015 Form 8697

Form 8697 (Rev. December 2011)

Interest Computation Under the Look-Back Method for Completed Long-Term Contracts 2012 Form 8697

Form 8697 (Rev. December 2011)

Interest Computation Under the Look-Back Method for Completed Long-Term Contracts 2011 Form 8697

Form 8697 (Rev. December 2011)


TaxFormFinder Disclaimer:

While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/federal/form-8697