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Investors have less than a week to take full advantage of a key tax benefit in opportunity zone funds. They can avoid taxes on 15% of previous capital gains invested in an opportunity zone fund held for seven years only if they make that investment by Dec. 31. The reason: The deferred taxes come due by Dec. 31, 2026.

After Jan. 1, 2020, investors will be eligible for a tax cut of only 10% on those gains so long as they hold the investment for more than five years. These cuts are essentially a step-up in the tax basis of those previous gains. 

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