Taft summer associate Lauren Lambert contributed to this article.
A taxpayer who invests an amount of capital gains in a QOF generally defers recognizing the gain until the earlier of (i) the date on which he or she disposes of the QOF interest and (ii) December 31, 2026. The tax code provides investors who hold their interest for at least 7 years (or 5 years) prior to the recognition date with a basis bump that permits them to permanently exclude
Continue Reading Did you know you may never have to recognize some of the gain you previously deferred via investing in a Qualified Opportunity Fund (QOF)?