Treasury Issues First Tranche of Proposed Regulations | October 19, 2018

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The IRS published the first tranche of proposed regulations that provide guidance under the new section 1400Z-2 of the Internal Revenue Code (Code) relating to gains that may be deferred as a result of a taxpayer’s investment in a Qualified Opportunity Fund (QOF).

Specifically, the proposed regulations address the type of gains that may be deferred by investors, the time by which corresponding amounts must be invested in QOFs, and the manner in which investors may elect to defer specified gains.

The publication also contains proposed regulations applicable to QOFs, including rules for self-certification, valuation of QOF assets, and guidance on qualified opportunity zone businesses.

Read the full IRS Proposed Regulations.

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Ross Hair

Ross Hair is a real estate agent and the Broker / Owner of Boco Realty LLC.

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