The IRS provided some friendly guidance to investors who sought to leverage the 2017 tax law’s opportunity zone tax breaks last year with an update to its frequently asked questions on the incentives.
Investors with tax code Section 1231 gains—which stem from sales of real estate and other property—have 180 days to plug the money into an opportunity zone investment to qualify for the associated tax perks. The question of when that 180 days began has spurred confusion and concern among investors who put money from such gains into an opportunity fund in 2018.
Those perks include eight years of ...