Schedule OZ: Gains Invested in Qualified Opportunity Zone Funds for 20C, 20S and 65 (Revision)
Alabama · Alabama DOR · Used for tax years 2025
Alabama Schedule OZ reports gains invested in Qualified Opportunity Zone Funds and separates taxable gains from deferred gains. It lists property and fund details and is attached to Forms 20C, ET-1, 20S and 65.
Who files this form
Schedule OZ lists gains invested in Qualified Opportunity Zone Funds. The form says to attach it to Form 20C, ET-1, 20S, or 65.
What you'll need
Have Federal Form 8949 available for the deferred gain amounts. You will also need the information requested on Schedule OZ:
- Name shown on the return, FEIN, and tax period beginning and ending dates.
- Description of each property and the date it was sold or disposed of, in mm/dd/yyyy format.
- Name and FEIN of the Opportunity Zone Fund in which the gain was invested.
- Whether the fund is approved by ADECA.
- Amounts to report as taxable or deferred gain.
How to file
Attach Schedule OZ to Form 20C, ET-1, 20S, or 65. The supplied text does not give a mailing address or e-filing instructions.
Report total taxable gain on line 4 by adding lines 2 and 3. Also enter that total on the applicable return:
- Form 20C or ET-1: Schedule FTI, line 3.
- Form 20S: page 4, Schedule K, line 7b.
- Form 65: page 4, Schedule K, line 8b.
Report total deferred gain on line 7 by adding lines 5 and 6.
Questions people ask
Where does the deferred gain amount come from?
Column (c) asks for deferred gain from Federal Form 8949.
Where do I enter taxable and deferred gains?
If the gain is taxable, enter the amount from column (c) in column (g). If the gain is deferred, enter the amount from column (c) in column (h).
How do I include gains listed on additional pages?
Enter the total of column (g) from additional pages on line 3 and the total of column (h) from additional pages on line 6. Add lines 2 and 3 for total taxable gain on line 4. Add lines 5 and 6 for total deferred gain on line 7.