Tax Tip #292

For those taxpayers who took advantage of the deferral of gain offered by investing into a Qualified Opportunity Zone Fund, congratulations. However, that deferral period ends on 12/31/2026. Then Uncle Sam and perhaps your resident state will collect the tax on perhaps only 85% of the original gain. 

If you are in this boat, reach out to a team member to discuss what can be done to help minimize the tax impact. Keep in mind that these gains can then be reinvested in 2027 and are then subject to the new opportunity zone rules with a tax deferral until February 1, 2032.