Opportunity Zones: Final Regulations Are Out! (Currently Unavailable)

Author: Greg White

The final regulations are out! Get ahead of the curve and be prepared to discuss the “O-zone” with your clients. Join Greg White, CPA, as he covers what you need to know from the 544-regulation package.

Publication Date: January 2020

Topics Covered

• Why Do We Have QOFs?
• QOFs— Grabbing Attention
• Eligible Gains— "Shoe Horning" into QOF Benefits
• Investing a Portion of Capital Gain
• Impossible to Foresee Future Capital Gains Rates
• Using Debts to Leverage QOF Benefits
• Big Capital Gain
• When Does the 180”Day Clock Start Ticking?
• Character Deferred Gain
• Definitions
• Requirements: Real Estate, Construction, or Substantial Improvement
• Sin Businesses
• Election to Defer Gain
• Remember: Future Taxes Need to Be Paid
• Second Hand QOFs
• Tax Forms
• Test: Percentage of Assets in Opportunity Zone and Penalty
• Sales of Real Property §1031 or QOF
• Is the Property in an OZ?
• Types of Operating Businesses
• What Did You Get Me Into?
• Why Didn't You Discuss QOFs with Me?
• Different Types of QOFs
• Inclusion Events
• Death and QOFs
• Anti”abuse Rules
• Effective Date and Choice of Regs

Learning Objectives

• Identify the latest opportunity zone regulations and how they apply to your clients
• Recognize what you need in order to receive benefits of a QOF
• Identify QOF Tax benefits
• Recognize which form to use to make the election to defer a gain into a qualified opportunity fund that invests in a qualified opportunity zone property
• Identify specific inclusion event
• Describe installment sales
• Recognize which type of business qualifies for a two-tier arrangement
• Describe "sin" businesses and how to treat them
• Identify a type of general inclusion event

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of opportunity zones.

Advance Preparation
None