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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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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
