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Updated almost 6 years ago,

User Stats

86
Posts
38
Votes
Jesse Smith
  • Rental Property Investor
  • Kansas City, MO
38
Votes |
86
Posts

Opportunity Zone Benefit Look Back Period? Tax help?

Jesse Smith
  • Rental Property Investor
  • Kansas City, MO
Posted

I'm probably out of luck here, but I'll ask anyway.  On October 4, 2017, I sold $75,000 of stock ($11,500 capital gains) to invest in two local properties.  When the Tax Cuts and Jobs Act identified Qualified Opportunity Zones on Dec 22, 2017, these properties fall within one.  

I paid the capital gains tax on my 2017 tax return, but now I'm wondering if I can file an amendment and recoup the amount paid, since it went into a QOZ.  I know that the QOZ's were added to the tax code on Dec 22, 2017, but the FAQ from the IRS website gives an example that stock sold on Dec 15, 2017 could qualify.  Could stock sold on Oct 4, 2017 also qualify, since the QOZ's were added within the 180-day investment window?

Any CPA's have insight on this one?  

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