You report your investments by filling form 8997.
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How can I as an OZ investor report on my taxes that I have invested in different OZ projects?
Answers
You will place the QOF's EIN on each line when completing forms 8997 and 8949.
Between Forms 8996 and 8997, you'll have ample opportunity to distinguish between different projects.
To be clear, you cannot obtain opportunity zone (OZ) benefits from a direct investment in an OZ project. Rather, you would have invested in one or more qualified opportunity funds (QOFs), which in turn would have (directly or indirectly) invested in the OZ projects. You are required to report your investments in QOFs on IRS Form 8997 attached to your annual income tax return. Each QOF is then required to report its investments on IRS Form 8996.
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