Novogradac Opportunity Zones Handbook

2019 Edition
Handbook Cover - Opportunity Zones 2019

The 2019 Novogradac Opportunity Zones Handbook gives readers background and guidance for the new federal opportunity zones incentive. The second edition of the Novogradac Opportunity Zones Handbook has been updated to reflect the second tranche of proposed Treasury regulations. It provides an overview of the incentive, tax benefits, definitions of key terms, technical income tax aspects, and explanation of opportunity zones, qualified opportunity funds and qualified opportunity zone property. The Novogradac Opportunity Zones Handbook also includes key sections from the Internal Revenue Code, Treasury guidance and more.

The 2019 Novogradac Opportunity Zones Handbook includes new sections about:

  • The investment requirement for qualified opportunity funds
  • Notification requirements for pass-through entities
  • Recognition of deferred gain and inclusion events
  • Leased property for qualified opportunity zone businesses
  • Safe harbor for inventory in transit
  • Active conduction requirement for a qualified opportunity zone business
  • Period for a qualified opportunity fund to reinvest certain proceeds

And updated sections about:

  • State tax conformity
  • How to handle IRC Section 1231 gains and losses
  • Qualified dividend income
  • Rules for election
  • Partial exclusion of deferred gains
  • Election to disregard recently contributed property
  • Statutory requirements for qualified opportunity zones property

Click here for the table of contents