Sun, 4 November 2018
WHAT IS A QUALIFIED OPPORTUNITY ZONE? A NEW IRS PROGRAM DEFERS RECOGNITION OF ALL CAPITAL GAINS WHEN PROFITS ARE REINVESTED IN A QOF AS WELL AS THE QOF
Our FEATURE today focuses on a new IRS program titled a Qualified Opportunity Zone which can eliminate capital gains taxes on any investment you have already sold or will sell if you invest these funds in a QOF within 180 days. For investors that hold their QOF interest for a period of 10 years there will be no taxes due upon their sale of the QOF property. A QOF interest can be sold after 5 or 7 years with an adjustment in the taxable gain. It is important to note that an investors funds can be a result of any capital assets and not restricted to a sale of real estate. You can get more details by going to: eig.org/opportunityzones. Other topics include: Wages Rise as Hiring Accelerates, The Inflation Jeannie makes her presence felt at grocery stores and restaurants, "Skeptics Ignore Buy the Dip Cry", Apple wants to hide cogent facts, Troubled GE Hits New Low, The market will yawn at a Dem win of the House, Jim Rogers says, "The coming bear market will be the worst of my lifetime" and China manipulates the Yuan lower.