8996 Form 2021-2024

8996 Form: What You Should Know

For the most part, corporations and partnerships report their profits on their tax return as ordinary income. However, for an investment in a qualified opportunity fund, their income must be reported as qualified opportunity zone property (BZP). And if they make distributions to owners of qualifying BZP qualified investments they should keep those amounts as qualified opportunity zone property and not as ordinary income. Form 8996, Qualified Opportunity Fund. (Rev. Dec. 2025) Form 8996 also reports on its own in detail which BZP investments are Qualified Opportunity zones in which the corporation or partnership is a qualified opportunity fund. This information is the same as income tax return information. However, what corporations and partnerships keep on their tax return is not of interest to many investors who want to know where their company's investments are located. The Qualified Opportunity Zone Investment Information Section of Form 8996: In addition to the section of the Form 8996 filing that contains information about the qualifying BZP investments of the corporation or partnership, there is another section that contains additional information about the BZP investments. The Information in this section provides the following information for each BZP qualified investment: ● the nature of the investment ● the date of investment ● the number and nature of the investments in the investment ● the name of the issuer ● the location (state, city, and zip code) of the investment ● the date the partnership or corporation was formed ● details of the interest in the investment 1. Form 8996 has two other sections that contain information about Qualified Opportunity Zone assets held by the corporation and partnerships: ● Information in the section on qualified opportunity zone assets held by the corporation and partnerships ● Summary Information in the section on Qualified Opportunity Zone assets held by entities. 2. To fill in the info in the section mentioned above, click “Qualified Opportunity Zone Assets” and select all the boxes in the section. You can save the data and print out the info. 3. In “Summary of BZP Qualified Assets,” list the individual securities and shares that are part of the BZP. It should be noted that certain information is not available for BZP investments held by partnerships. You need to search for the securities and shares similarly as you would do for BZP investments held by corporations.

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