San Diego
Opportunity zone investors are getting some slack during thepandemic. The 180-day deadline for investors to place capital gainsin a qualified opportunity zone fund—and therefore avoid capitalgains taxes—has been extended to July 15, if the deadline fellduring the pandemic from April 1 to July 1.
"For the first time, time sensitive actions include the periodof time to invest eligible gains in a qualified opportunity fund,"Phil Jelsma, a partner and chair of the taxpractice team at Crosbie Gliner Schiffman Southard &Swanson, tells GlobeSt.com. "In general, these new rulesdo not apply to all potential capital gains—only assets disposed ofbetween October 4, 2019 and January 17, 2020.This extension could also provide QOFs with additional time to meettheir deadlines."
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Kelsi Maree Borland
