New IRS Guidance to Tax Provision Means Big Breaks to Real Estate, Business Investors

November 12, 2018

The 2017 Tax Cuts and Jobs Act added a new tax provision to the Internal Revenue Code, Section 1400Z-2, which aims to provide big capital gains tax breaks to real estate and business investors who make investments in certain economically underdeveloped areas. To be entitled to the capital gains tax break, investors are required to invest proceeds that would be subject to capital gains tax, such as those from the sale of a business or stock, and timely invest them in a Qualified Opportunity Fund (QO Fund).

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