Form 8866 Interest Computation Under the Look-Back Method for Prop

Interest Computation Under the Look-Back Method for
Property Depreciated Under the Income Forecast Method

8866

Form
(Rev. November 2002)

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Department of the Treasury
Internal Revenue Service

See separate instructions.

For the recomputation year beginning

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OMB No. 1545-1622
Attachment
Sequence No.

Please print or type.

, and ending

108

. See instructions.

Name

A Identifying number

Fill In Your
Address Only If
You Are Filing This
Form Separately
and Not With Your
Tax Return

B Check applicable box to show type of taxpayer:

Number, street, and apt., room, or suite no. If a P.O. box, see instructions.

City or town, state, and ZIP code. If a foreign address, see instructions.

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 depreciated one or more properties 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.
Name of entity

Employer identification number

Pass-through entities: Skip lines 1, 3, 4, and 5.
1 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 167(g)) (see instructions). If you were required to
file Form 8866 for an earlier year, enter adjusted taxable
income for the prior years from Form 8866, line 3, for the
most recent recomputation year that affects the prior years
2 Adjustment to taxable income for the difference between:
(a) the depreciation deducted under the income forecast
method based on estimated future income and
(b) depreciation allowable under the income forecast
method based on actual income earned for periods before
the end of the recomputation year and estimated future
income to be earned after the recomputation year.
See instructions and attach a schedule listing each
separate property, 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:
(a)
Year ended
mo.
yr.

(b)
Year ended
mo.
yr.

(d)
Totals
(Add columns (a),
(b), and (c).)

(c)
Year ended
mo.
yr.

3 Adjusted taxable income for look-back purposes. Combine
lines 1 and 2
4 Income tax liability on line 3 amount using tax rates in effect
for the prior years (see instructions)
5 Income tax liability shown on return (or as previously
adjusted) for the prior years (see instructions). If you were
required to file Form 8866 for an earlier year, enter the amount
required to be reported on Form 8866, line 4, for the most
recent recomputation 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. (Pass-through entities: See instructions.)
7 Interest due on increase, if any, shown on line 6 (see
instructions)
8 Interest to be refunded on decrease, if any, shown on
line 6 (see instructions)
9 Net amount of interest to be refunded to you. If line 8, column (d), exceeds line 7, column (d), enter the excess. File
Form 8866 separately; do not attach it to your tax return (see instructions)
10

Net amount of interest you owe. If line 7, column (d), exceeds line 8, column (d), enter the excess. Attach
Form 8866 to your tax return. See instructions for where to include this amount on your return

Signatures. Complete this section only if this form is being filed separately and not with the tax return.
Sign
Here

Paid
Preparer’s
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.

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Signature(s)

Preparer’s
signature

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Firm’s name (or yours
if self-employed) address, and ZIP code

Date
Preparer’s SSN or PTIN

Date

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For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Check if
self-employed

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EIN

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Phone no.
Cat. No. 26036C

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Form

8866

(11-2002)