Novogradac partner John Sciarretti, CPA, represents the Novogradac Opportunity Zone Working Group at the July 9, 2019, Treasury hearing on proposed opportunity zones regulations.
John discusses three topics:
1. The special amount includible rule in the case of an inclusion event for investments in qualified opportunity fund (QOF) partnerhips and QOF S corporations.
2. The special 10-year exclusion election rule for QOF partnerships and QOF S corporations.
3. A grace period for QOFs and QOZBs to use property in a trade or business.
Learn more about opportunity zones at www.opportunityzonesresourcecenter.com.