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Miami Gardens Florida Form 1120 (Schedule D): What You Should Know
The information contained in the original filing of a qualified opportunity fund (OF) election is shown. Note: There are exceptions to the requirements of this paragraph. For example, if an OF is terminated, terminated, or closed without making any distribution during the period ending with the last day of the year in which the qualified opportunity fund (OF) election was filed (or the first day of the following subsequent taxable year), an election must be filed within 6 months after the last day of the year. In such cases, the OF must file an election within 60 days after receiving the shareholder notice of termination. If the OF is terminated in one taxable year before the end of the third year following the date the OF was terminated, the OF must file an election no earlier than the end of that taxable year. (2) The name and address of the person making the election, and its last known address for not more than 90 days beginning after the date the petition is filed with the tax administrator. (3) The information in the original filing of a qualified opportunity investor (MOI) election (Form 6201, Election for a Qualified Opportunity) is Shown. Unless a separate election is made to include an income with respect to the MOI, the information must show the date the MOI made the qualified investment, and the amount reported. If the person making the election is not required to report the amount reported, then it must indicate the following: (a) For each amount in the qualified opportunity fund (OF) account at any time during the. Qualified investment period of the MOI, the date the amount was reported, and its date of inclusion. (b) Total MOI investment income (gain) (whether included in the taxpayer's taxable income for that period) from all qualified investments by the MOI at any time during the qualified investment period of the MOI must be shown by adding up all amounts reported in the OF during that period, and all other amounts Reported to the tax administrator for purposes of computing the taxpayer's income or qualified investment interest or gain from all qualified investments. (4) The number of shares owned by the MOI at any time.
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