Hello, I plan to defer a 2021 short-term capital gain by purchasing a qualified opportunity zone fund before the end of the calendar year. I understand I cannot self-file IRS Form 8949 using TurboTax software. Can this be accomplished through Turbotax I purchase a full-service "expert-prepared" tax filing?
I also need advice on two questions:
1) Can I defer gross capital gains realized within the past 180 days (e.g. capital gains without regards to losses), or just net capital gains? I understand that gross deferral is allowed based on my reading of the tax code, but I would like to confirm.
2. If I purchase a QOZF interest this year and sell in 2022, is there any penalty to exiting the QOZF early? Of course the taxes would be due at that time and I would not receive the other benefits (step up in basis, elimination of gains on the QOZF). Just want to understand if exiting early is penalized in any way.
Thank you
