The Treasury Department recently released a second set of guidelines for Opportunity Zones that Kathy Fettke says should clear up unanswered questions. In a recent episode of Real Estate News for Investors, Fettke discusses the recently released guidelines and how they will impact investors. She says that while there has been strong interest in the tax break program, many Investors have been sitting on the sidelines waiting for details.
“…we’ve been very enthused about this program. It allows you to sell an asset, use the capital gains for an Opportunity Zone project, and reduce the amount of tax owed on those gains. You can also completely eliminate taxes on the new investment if you remain invested for at least 10 years. That’s an enticing deal for anyone who’s worried about a big capital gains tax bill from the sale of an asset…”