Urban Catalyst is always looking for ways to help investors make savvy investment decisions!
Our SVP of Investor Relations, Morgan Mackles, recently sat down with CPA Nick Gibbons to discuss the Top 15 Opportunity Zone Tax Questions.
Watch the full video above to unlock answers to questions like:
- What’s the origin of the Opportunity Zone Tax Program and where is it within the IRS code?
- What are the main tax benefits?
- Why capital gains and not ordinary income?
- Why does the IRS have a 180-day deadline to make an investment?
- What happens with the taxes for an initial capital gain?
- What happens if that gain is categorized as a short-term capital gain and not a long-term capital gain?
- What is the difference for the investor in a partnership versus a REIT?
- How do potential losses in partnership funds work?
- How does the depreciation recapture work?
- Are refinance distributions taxable?
- When Opportunity Zone Investment taxes come due, what happens to other capital losses?
- Why a 10-year minimum hold, what does that entail and what was IRS reasoning?
- What about investors living in states that don’t conform to the OZ legislation?
- Which part of their gain is potentially going to qualify for California taxes?
- What tax forms do investors need to submit to let the federal government, the state government know that they've invested in a Qualified Opportunity Fund?