Opportunity Zone legislation originally provided 180 days for investors to roll over qualifying capital gains into a Qualified Opportunity fund (QOF). As a result of the COVID-19 pandemic, the IRS has released several notices to extend the investment window for investors with eligible capital gains.
Most recently Notice 2021-10 allows investors whose 180-day period would have ended between April 1, 2020, and March 31, 2021, to now make their investment until March 31, 2021.
If you have a qualifying capital gain realized between Oct 4, 2019 and October 2, 2020, this might be the last chance to get the potential tax benefits an OZ investment provides. Contact us to discuss the possibility of getting in between now and the new deadline of March 31, 2021.