Get Form 8697 (rev. March 1998). Interest Computation Under The Look-back Method For Completed

This guide provides users with a comprehensive overview of filling out Form 8697, which pertains to interest computations under the look-back method for completed long-term contracts. Our clear, step-by-step instructions are designed to assist users of all experience levels in completing this form accurately and efficiently.

Follow the steps to complete Form 8697 accurately.

1. Click the ‘Get Form’ button to access the form in your preferred online format.
2. Fill in the filing year beginning and ending dates in the appropriate section. Ensure the dates correspond to the taxable income period you are addressing.
3. Enter your name and identifying number in the spaces provided. If you are filing the form separately from your tax return, include your address.
4. Select the appropriate box to indicate your taxpayer type, whether you are an individual, corporation, partnership, estate or trust, or S corporation.
5. If applicable, provide the name and employer identification number of any pass-through entity that relates to this interest computation.
6. In Part I, complete line 1 by entering your taxable income or loss for prior years, obtaining this figure from your filed tax returns.
7. Follow the instructions to fill out lines 2 through 10, providing necessary adjustments to income and calculating liabilities related to interest due or to be refunded.
8. Sign the form if you are filing it separately. If using a paid preparer, they should complete and sign the preparer’s section.
9. Review all entered information for accuracy. Corrections can be made directly in the online form.
10. Once satisfied with the completed form, you can save the changes, download, print, or share the form as needed.

Start filling out your Form 8697 online today to ensure your interest computations are accurate and in compliance.