Form 8697 (Rev. 11-2018)
Page 2
Part II
Simplified Marginal Impact Method (see instructions)
Date of each prior year to which interest
computation relates:
(a)
Year ended
mo. yr.
(b)
Year ended
mo. yr.
(c)
Year ended
mo. yr.
(d)
Totals
(Add columns (a),
(b), and (c).)
1
Adjustment to regular taxable income to reflect the
difference between: (a) the amount of such income required
to be allocated for post-February 1986 contracts completed
or adjusted during the tax year based on actual contract
price and costs, and (b) the amount of such income
reported for such contracts based on estimated contract
price and costs. See instructions and attach a schedule
listing each separate contract, unless you were an owner of
an interest in a pass-through entity reporting this amount
from Schedule K-1 or a similar statement . . . . .
2
Increase or decrease in regular tax for prior years. Multiply
line 1 in each column by the applicable regular tax rate
(see instructions) . . . . . . . . . . . .
Note: For prior years beginning before 1987, skip lines 3
and 4 and enter on line 5 the amount from line 2.
3
Adjustment to alternative minimum taxable income to reflect
the difference between: (a) the amount of such income
required to be allocated for post-February 1986 contracts
completed or adjusted during the tax year based on actual
contract price and costs, and (b) the amount of such income
reported for such contracts based on estimated contract
price and costs. See instructions and attach a schedule
listing each separate contract, unless you were an owner of
an interest in a pass-through entity reporting this amount
from Schedule K-1 or a similar statement . . . . .
4
Note: For tax years beginning after 2017, the alternative
minimum tax for corporations has been repealed.
Increase or decrease in alternative minimum tax (AMT) for
prior years. Multiply line 3 in each column by the
applicable AMT rate (see instructions) . . . . . .
5 Enter the larger of line 2 or line 4. See instructions if either
amount is negative . . . . . . . . . . .
Pass-through entities: Skip line 6 and enter on line 7 the
amount from line 5.
6
Overpayment ceiling. For each column in which line 5 is a
negative number, enter your total tax liability for the prior year,
as adjusted for past applications of the look-back method
and after net operating loss, capital loss, net section 1256
contracts loss, and credit carryovers and carrybacks to that
year. For each column in which line 5 is a positive number,
leave line 6 blank and enter on line 7 the amount from line 5
7
Increase or decrease in tax for the prior years on which interest is
due (or is to be refunded). Enter the amount from line 5 or line 6,
whichever is smaller. Treat both numbers as positive when making
this comparison, but enter the amount as a negative number .
8 Interest due on increase, if any, shown on line 7 (see
instructions) . . . . . . . . . . . . .
9 Interest to be refunded on decrease, if any, shown on line
7 (see instructions) . . . . . . . . . . .
10 Net amount of interest to be refunded to you. If line 9, column (d), exceeds line 8, column (d), enter the excess. File
Form 8697 separately; do not attach it to your tax return (see instructions) . . . . . . . . . . . . .
11 Net amount of interest you owe. If line 8, column (d), exceeds line 9, column (d), enter the excess. Attach Form 8697
to your tax return. See instructions for where to include this amount on your return . . . . . . . . . .
Signature(s) Complete this section only if this form is being filed separately.
Sign
Here
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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Paid
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self-employed
PTIN
Firm's name
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Firm's EIN
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Firm's address
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Phone no.
Form 8697 (Rev. 11-2018)
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