8697 - Interest Computation Under the Look-Back Method

What is the form used for? :

• Use this form to figure the interest due or to be refunded under the look-back method of section 460(b)(2) on certain long-term contracts that are accounted for under either: the percentage of completion method or the percentage of completion-capitalized cost method.

Is the form Supported in our program? Yes

How to access the form: To access the form, you will need to open a 1040/Business return on the online/desktop and then go to Add Form/Display and type 8697.

Limits to the form: The business variant of this form can only be accessed from the desktop software. This form cannot be copied.

IRS Publication: https://www.irs.gov/forms-pubs/about-form-8697