Instructions For Form 8621 - 2016 Page 13
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14Treasury. If you would otherwise receive
enter the line 25 amount of this year’s
Lines 25 and 26. Complete lines 25
a refund, reduce the refund by the
Form 8621 on line 19 of next year’s
and 26 only if a section 1294 election is
interest due.
Form 8621.
partially terminated. Enter on line 25 the
For individuals, include the interest
part of the deferred tax outstanding after
Enter on line 26 the accrued interest
from line 24 as part of the total for Form
the partial termination of the section
remaining after the partial termination of
1040, line 62. Check box c on line 62
1294 election. This amount should
the section 1294 election. This amount
and enter “1294INT” and the amount of
equal line 19 minus line 23.
should equal line 20 minus line 24.
the interest in the entry space for that
Note. As indicated in the line 19
box.
instructions, for next year, be sure to
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