IRS Publishes Rev. Rul. 2018-29 | Original Use Requirements For Land

By Ross Hair in Opportunity Zone Tax with 0 Comments

Important update for real estate investors and developers.

In addition to the proposed regulations, Treasury and the IRS issued an additional piece of guidance to aid taxpayers in participating in the qualified Opportunity Zone incentive.

Rev. Rul. 2018-29 provides guidance for taxpayers on the “original use” requirement for land purchased after 2017 in qualified opportunity zones.

Click here to view Rev. Rul. 2018-29

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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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IRS Publishes Rev. Rul. 2018-29 | Original Use Requirements For Land

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