Investors who were sitting on the sidelines during coronavirus will get some more time to partake in a new tax play.
Qualified opportunity funds were created by the Tax Cuts and Jobs Act of 2017.
They offer taxpayers an incentive to invest capital gains they incur elsewhere into economically distressed communities, granting investors an attractive tax break if they remain in the fund for at least five years.
Investors have poured more than $10 billion into the 406 qualified opportunity funds listed on the Novogradac Opportunity Funds List as of April 30. That’s up from $790 million invested in May 2019.
The coronavirus pandemic has led to prospective investors slowing down and carefully…