Form 8866 is used to calculate the interest due or interest to be refunded under the look-back method of section 167(g)(2) for property placed in service after September 13, 1995 that is depreciated under the income forecast method as described in section 167(g). (The income forecast method of depreciation is generally limited to motion picture films, video tapes, sound recordings, copyrights, books, and patents.)
TaxSlayer Pro includes an entry point for the look-back interest due as calculated on Form 8866 but does not include the form itself. You can complete the form at the IRS website, print it to PDF, and attach the PDF to the return. (If Form 8866 results in the taxpayer being due a refund, the form needs to be mailed to the IRS separately from the tax return. No entry is made in Form 1040.)
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