The Treasury and the IRS announced the designations for opportunity zones. These are distressed communities in which investments receive advantageous tax treatment. These areas retain their designation for 10 years. The tax on gains through a Qualified Opportunity Fund can be deferred until December 31, 2026. And if an investment is held at least 10 years, basis is increased to the fair market value of the investment on the date it’s sold (no taxable gain). See FAQs on opportunity zones.
Barbara Weltman
Big Ideas for Small Business, Inc.
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