Within 180 days I have invested a portion of my capital gains into an opportunity zone and would like to know how TurboTax treats this.
TurboTax for 2018 does not support deferring capital gain by investing in a qualified opportunity zone. There is no way to enter the deferral in TurboTax.
If the gain occurred in 2018, you have to report the gain and the deferral on your 2018 tax return, even if you made the investment in the opportunity zone in 2019.
I'm in the same situation. Sold an investment property in 2019 and have 180 days to invest into an Opportunity Zone fund. But, need to calculate the capital gains. I've hired an accountant, but they need more data than what TT provides to calculate the capital gains. Anyone else have any luck in calculating their capital gains in the middle of the tax year?
Hi guys, I will be selling my rental home and looking into doing a 1031 for an opportunity fund. No one in my friends circle know what I am talking about and I myself just discovered this option. Any leads into which opportunity zone fund to you've invested in and can refer me to look into something you've found to be giving stable returns.