Nitti, IRS Provides clarify in second round of opportunity zone regs (AICPA)

Nitti describes how the April 2019 proposed IRS regulations “amending and supplementing proposed regulations it had issued the previous October concerning investments in qualified opportunity zones (QOZs)” addressed several important questions such as “how Sec. 1231 gains are netted as gain eligible to be deferred upon reinvestment into a qualified opportunity fund (QOF).” Other notable areas the April 2019 regulations clarified included the definition of qualified opportunity zone business property (QOZBP), the manner of constructing or improving real estate in a QOZ, etc.

Download the full article by clicking Nitti, IRS Provides clarify in second round of opportunity zone regs (AICPA).

Posted by Jessica Zhang, Associate Editor, Wealth Strategies Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s