Opportunity Zones, What Are They?
What is an Opportunity Zone Investment?
The Tax Cuts and Jobs Act (TCIA) created a new investment called an Opportunity Zone on December 22, 2017. This Act encourages taxpayers to invest capital through private investments. Investing in businesses and real estate in distressed communities spurs economic development. Many real estate investors who have used 1031 exchanges are curious about this new real estate investment possibility. The new regulations have opened up more great options for real estate investors and warrants discussion.
Should I do a 1031 exchange or an Opportunity Zone investment?
A good deal of the decision comes down to the property’s location and the timeline. We strongly encourage you to discuss both strategies with your tax advisor. In doing this, you will determine which course of action would best suit your needs and objectives.
For additional and more detailed information about 1031 exchanges, call
Granite Exchange today at 800-899-6959.
Our Certified Exchange Specialists® (CES®) can explain the process and guide you through every step of the exchange to ensure that the exchange is done properly.