December 10, 2019 Comments Off on Focus on the Future: Deadline Dates for O-Zone Investments Views: 739 National News

By the end of 2019, the full tax benefit of Opportunity Zone investment will officially expire, a little more than two years after the Investing in Opportunity Act was passed as part of the Tax Cuts and Jobs Act of 2017. This is because the 15% step-up in basis following a seven-year hold goes away; it will not be possible to achieve a seven-year hold prior to the end of 2016.

This doesn’t mean, however, that all tax benefits go away. The chart, below, outlines other near-, mid-and far-term deadlines to keep in mind for investment in Qualified Opportunity Funds and Opportunity Zones. The information is subject to change, based on additional guidance issued by the IRS and U.S. Department of the Treasury.

Other dates to consider:

Dec. 31, 2028: Statutory expiration of Qualified Opportunity Zones designation.

June 28, 2037: Earliest date on which the last Opportunity Zone investments can be sold and qualify for the 10-year gain exclusion.

Dec. 31, 2047: The final date to sell an Opportunity Zone investment to achieve a basis step-up to fair market value, eliminating capital gains.

Read more at Opportunity DB



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Focus on the Future: Deadline Dates for O-Zone Investments

Amy Wolff Sorter