I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

Here how the tax benefits work out in summary (taken from above website)Reinvested capital gains are deferred from taxation until exit from a Qualified Opportunity Fund or December 31, 2026, whichever comes first.The original capital gains reinvested in Qualified Opportunity Fund investments held for the long term receive a reduction in capital gains tax liability, discounted by 10% at the 5-year mark and by an additional 5% at the 7-year mark.Any new gains from Qualified Opportunity Fund investments held for at least 10 years are permanently excluded from the capital gains tax.

I'm try to understand the tax treatment of a loss on a flip residence, but haven't mastered how to search BP for this particular issue yet. I'm a newbie at posting a question, so apologies if it is not in the correc...

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

@Stirling Mintz I've learned a ton about RE taxation and how it flows into your personal balance sheet, that's what I meant with accounting.

Corporations have different tax structures and most warn about the double taxation of an S Corp.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

This could become an inconvenience at some point in the future, so as Lance suggested, better speak to your accountant (one that understands taxation on both sides of the 49th) before setting-up your ownership structure.