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

8866

Form
(Rev. November 2018)
Department of the Treasury
Internal Revenue Service

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

Attachment
Sequence No. 108

Go to www.irs.gov/Form8866 for instructions and the latest information.

For the recomputation year beginning

Print
or
Type

OMB No. 1545-1622

, and ending

. See instructions.

Name

A

Identifying number

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

B

Check applicable box to show type of taxpayer:

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.
Employer identification number

Name of entity:

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.

Prior Years

Recomputation
Year
Year ended
mo.

yr.

mo.

(a)

(b)

Year ended

Year ended

yr.

mo.

(c)
Totals
(Add columns (a) and (b))

yr.

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.
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 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 (c), exceeds line 7, column (c), 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 (c), exceeds line 8, column (c), 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.
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.

Paid
Preparer
Use Only

▲

Sign
Here

Your signature

Date

Spouse’s signature. If a joint return, both spouses must sign.

Date

Print/Type preparer’s name

Preparer’s signature

Date

Check

if

PTIN

self-employed
Firm’s name

▶

Firm’s address

▶

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

Firm’s EIN ▶
Phone no.
Cat. No. 26036C

Form

8866

(Rev. 11-2018)