FYI: Investors can defer paying capital gains taxes on profits earned on the sale of stocks and real property by participating in a new federal program that promotes investment in municipalities across the nation.
Created to encourage long-term investment of unrealized capital gains in low-income urban and rural communities, the Opportunity Zone Program was signed into law late last year under the Tax Cuts and Jobs Act of 2017. Under the program, investors who sell appreciated assets can invest the proceeds within 180 days of the sale into qualified opportunity funds to defer paying capital gains taxes. Three new funds started this year under the program, but they aren’t without some risks.
Regards,
Ted
https://www.fa-mag.com/news/a-new-way-for-clients-to-postpone-capital-gains-taxes-41115.html?print
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According to the article [?], is it this:
On June 26, North Coast Partners became the first investment group to launch an opportunity fund. The group's Detroit Opportunity Fund is the first of several geographically targeted opportunity funds and began with a $500 million pipeline of new deals in the city.