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Qualified Opportunity Funds: A Guide for Real Estate Investors - August 2019
The Tax Cuts and Jobs Act of 2017 (TCJA) has provided significant tax and economic benefits for investors, real estate developers and fund sponsors through the Opportunity Zone Program. Qualified Opportunity Zones (QOZs) are designed to spur long-term growth and economic development in economically distressed neighborhoods through tax incentives. Qualified Opportunity Funds (QOFs) are a very hot topic of interest. Investors should recognize that there are inherent risks with these funds. Investors should seek investments that make economic sense independent of the potential tax benefits.
As a result of additional guidance issued on April 17, 2019 by the Treasury Department and IRS, we have updated Qualified Opportunity Funds: A Guide for Real Estate Investors to provide further insight into this highly publicized and promoted tax benefit. This second set of proposed regulations has afforded additional investor friendly guidance which has answered many uncertainties and addressed many open issues which needed to be resolved for projects to move forward in opportunity zones.
This convenient guide focuses on such key topics as:
- Formation of Qualified Opportunity Funds
- Qualified Opportunity Zone Designation
- Qualified Opportunity Zone Property
- 90% Asset Test
- Leased Tangible Property
- Direct Vs. Indirect Investments
- Multi-Asset Fund Considerations
- Investor Requirements And Treatment
- Special Considerations For REITs
- IRC Sec. 1031 Exchange Vs. Qualified Opportunity Funds
- FIRPTA Considerations
- Anti-Abuse Provisions
- Other Credits
- State And Local Taxation
- Remaining Areas Of Uncertainty
REGISTER BELOW to download the full booklet or CLICK HERE to preview an extract taken from the how-to guide.