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How to report a QOZ fund investment and elect for the gain deferral for tax purposes?

To elect to defer tax on an eligible gain, a taxpayer or their tax preparer will first need to report the gain on the applicable IRS tax form for the taxable year in which the gain was realized, as per usual. The taxpayer or their tax preparer must also complete IRS Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments. Form 8997 requires details such as:

The date the investment into the QOZ fund was made (i.e. the date the investor wired their money for the investment to the QOZ fund)

• The $ amount of the QOZ fund investment that was made
• The legal name of the QOZ fund or entity invested in
• The EIN of the QOZ fund or entity

Note the Origin Opportunity Zone Fund III, LLC EIN is: 93-1653053.