Form 8697 - Interest Computation Under The Look-Back Method For Completed Long-Term Contracts Page 2

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Form 8697 (Rev. 12-2011)

Page

Part II

Simplified Marginal Impact Method (see instructions)

Date of each prior year to which interest

(d)

computation relates:

Adjustment to regular taxable income to reflect the

Totals

difference between: (a) the amount of such income required

(a)

(b)

(c)

(Add columns (a),

to be allocated for post-February 1986 contracts completed

Year ended

(b), and (c).)

or adjusted during the tax year based on actual contract

mo.

yr.

mo.

yr.

mo.

yr.

price and costs, and (b) the amount of such income

reported for such contracts based on estimated contract

price and costs. See page 6 of the 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 .

Increase or decrease in regular tax for prior years. Multiply

line 1 in each column by the applicable regular tax rate

(see page 6 of the instructions) .

Note: For prior years beginning before 1987, skip lines 3

and 4 and enter on line 5 the amount from line 2.

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 page 6 of the 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 .

Increase or decrease in alternative minimum tax (AMT) for

prior years. Multiply line 3 in each column by the

applicable AMT rate (see page 6 of the instructions)

Enter the larger of line 2 or line 4. See page 6 of the

instructions if either amount is negative

Pass-through entities: Skip line 6 and enter on line 7 the

amount from line 5.

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

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

Interest due on increase, if any, shown on line 7 (see page

6 of the instructions) .

Interest to be refunded on decrease, if any, shown on line

7 (see page 6 of the instructions)

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 page 6 of the instructions) .

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 page 6 of the instructions for where to include this amount on your return

Signature(s) Complete this section only if this form is being filed separately.

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.

Sign

Your signature

Date

Here

Spouse's signature. If a joint return, both must sign

Date

Print/Type preparer’s name

Preparer's signature

Date

PTIN

Paid

Check