Opportunity zone questions

[Bo Yang]

I am going to be purchasing a property in an opportunity zone(Just realized a few days ago). The tax advantages seem very beneficial. Unfortunately, I do not have enough time to sell one of my properties in order to use capital gains for the purchase. I will be using an equity line instead.

Question 1: Do i need to create an llc to purchase the property or just under my name? my fear is that if I just purchase under my name, it would be difficult to qualify since it was not purchased under an LLC?

Question 2: I do plan to create a fund down the road and fund it with capital gain. Would that be possible?

My biggest interest is that I'm able to sell after 10 years and take advantage of the appreciate exclusion.

[Basit Siddiqi]

@Bo Yang

There are many tax benefits of investing in a qualified opportunity fund...however, you have to follow many rules before you can get those benefits. The number one rule is using capital gains to fund the QOF.