Form 8866 - Interest Computation Under The Look-Back Method For Property Depreciated Under The Income Forecast Method Form - Department Of The Treasury Internal Revenue Service
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1Interest Computation Under the Look-Back Method for
8866
OMB No. 1545-1622
Form
Property Depreciated Under the Income Forecast Method
(Rev. November 2002)
Attachment
Department of the Treasury
See separate instructions.
Please print or type.
108
Sequence No.
Internal Revenue Service
For the recomputation year beginning
, and ending
. See instructions.
Name
A
Identifying number
B Check applicable box to show type of taxpayer:
Fill In Your
Number, street, and apt., room, or suite no. If a P.O. box, see instructions.
Address Only If
You Are Filing This
Corporation
S corporation
Form Separately
City or town, state, and ZIP code. If a foreign address, see instructions.
Individual
Partnership
and Not With Your
Tax Return
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.
Date of each prior year to which interest
computation relates:
1
Taxable income (or loss) for the prior years shown on tax
(d)
return (or as previously adjusted) before net operating loss
(a)
(b)
(c)
Totals
or capital loss carrybacks (other than carrybacks that must
Year ended
Year ended
Year ended
(Add columns (a),
be taken into account to properly compute interest under
mo.
yr.
mo.
yr.
mo.
yr.
(b), and (c).)
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
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.
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.
Sign
Here
Signature(s)
Date
Preparer’s SSN or PTIN
Date
Preparer’s
Check if
Paid
signature
self-employed
Preparer’s
Firm’s name (or yours
EIN
Use Only
if self-employed) ad-
dress, and ZIP code
Phone no.
8866
For Privacy Act and Paperwork Reduction Act Notice, see instructions.
Cat. No. 26036C
Form
(11-2002)
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