IRS Provides Extension to Place Capital Gains in OZ Funds

May 28, 2020
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IRS Extension

The Internal Revenue Service recently extended the 180-day deadline to invest capital gains in Qualified Opportunity Zone Funds to July 15 for taxpayers whose deadline falls between April 1 and July 15, due to the COVID-19 pandemic. Notice 2020-23 permits taxpayers with deadlines that fall in that period to automatically postpone their investment deadline.

This includes investors with partnership or 1231 gains realized in 2019. We always encourage investors to start their investment diligence well ahead of the capital gain placement deadlines so they can invest with confidence instead of feeling rushed.