Section 15. Return of Partnership Income›3.12.15 Return of Partnership Income
Section 26 - Form 8997 - Initial and Annual Statement of Qualified Opportunity Fund…
Internal Revenue Manual Part 3. Submission Processing · 2026-10-03 edition · updated 2026-10-04 · United States
This subsection has instructions for correcting Section 26 Field Errors.
If tax period is before 201901 delete any fields in Section 26.
Fields 261A, 262A, 263A and 264A¶
- Form 8997 - EIN.
Invalid Condition - Fields 261A, 262A, 263A and 264A are invalid if:
The field is more than 9 characters.
The field is not numeric.
The tax period is before 201901.
Correction Procedures:
Correct coding and transcription errors and misplaced entries.
If the tax period is before 201901, delete the field.
Fields 261B, 262B, 263B and 264B¶
- Form 8997 - Date.
Invalid Condition - Fields 261B, 262B, 263B and 264B are invalid if:
The field is not 8 characters (YYYYMMDD).
The field is not numeric.
The months is zero or more than 12.
The day range does not match the number of days in the month.
The tax period is before 201901.
Correction Procedures:
Correct coding and transcription errors and misplaced entries.
if the tax period is before 201901, delete the field.
Fields 261D, 262D, 263D and 264D¶
- Form 8997 - Special Gain Code.
Invalid Condition - Fields 261D, 262D, 263D and 264D are invalid if:
The field is more than 1 character.
The field is not blank or A through Z, except for letter I.
The tax period is before 201901.
Correction Procedures:
Correct coding and transcription errors and misplaced entries.
If the tax period is before 201901, delete the field.
Fields 261IN, 262IN, 263IN and 264IN¶
If an of Parts I, II, III or IV have more than one row of tax data, an indicator will be entered in Fields 261IN (Part I), 262IN (Part II), 263IN (Part III) and 264IN (Part IV).
Invalid Condition - Fields 261IN, 262IN, 263IN and 264IN are invalid if:
The field is more than 1 character.
The field is not "blank" , "0" , or "1" (more than one row with data present).
The tax period is before 201901.
Correction Procedures:
Correct coding and transcription errors and misplaced entries.
If the tax period is before 201901, delete the field.
All other Fields in Section 26¶
Money Amount fields - Form 8997.
Invalid Condition - Money amount fields can only be positive and are invalid if:
The field is more than 15 characters.
The field is not dollars only.
The tax period is before 201901.
Correction Procedures:
Correct coding and transcription errors and misplaced entries.
If the tax period is before 201901, delete the field.
Get a plain-English answer with a citation back to this text.
Ask AI about this code