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Updated almost 6 years ago on . Most recent reply
Opportunity Zones / Capital Gains
Hi All.!
Less than a year ago did a 1031 and bought a new build duplex for 305K that i now realized is in an O.Z. This year i am going to have a large capital tax bill to pay in the region of 100K. Does anyone know enough about Opportunity Zones to know whether i can defer these funds for this new one i bought last september?. Thanks in advance for any advise .
Regards
Andy
Most Popular Reply
Natalie Kolodij
Tax & Financial Services
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- Tax Strategist| National Tax Educator| Accepting New Clients
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You can't do any thing retroactively.
Owning a property that happens to be in an opportunity zone offers you no benefit unfortunately.
You can defer that gain by investing in a different property in an opportunity zone though.
Kolodij Tax & Consulting