Opportunity Zones Abound But Investors, Tread Carefully

Law360

Nickolas Gianou David F. Levy Diana M. Lopo

The recently enacted Tax Cuts and Jobs Act created a new capital gains exemption for long-term investments in low-income communities that have been designated as “opportunity zones.” The centerpiece of the legislation is a provision that permits a taxpayer to sell existing appreciated assets and roll the amount of realized gain into an "opportunity zone fund" within 180 days of realization.

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