Yes, that should be fine, though you'll need further structuring if any co-investors want QOZ benefits for their capital.
Ask A Question
Can I buy a property in an Opportunity Zone with my 1031 and only get the tax benefit of the 1031 exchange?
Answers
Yes, opportunity zone benefits are entirely elective, so if you buy property in an opportunity zone--even if you use a structure that satisfies all of the opportunity zone requirements--you won't get the opportunity zone benefits if you don't elect to obtain them. And the fact that an exchange property or replacement property is located in an opportunity zone will not hinder an otherwise valid 1031.
Yes, you can 1031 into property located in an Opportunity Zone and get no Opportunity Zone tax benefits for a capital gain rollover.
DISCLAIMER:the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal and financial experts prior to participating in any aspect relating to Opportunity Zones. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public; do not include confidential information in your question.