The donation is an inclusion event, and you should get an offsetting charitable donation deduction, subject to applicable AGI limits.
Ask A Question
What happens if there is a donation of QOF interest to charity?
Does that mean it is an inclusion event? What is the process?
Answers
A donation of a QOF interest to a charity will constitute an inclusion event. If the charity is tax-exempt under IRC Section 501(c)(3), the taxpayer contributing the QOF interest may also obtain a charitable deduction.
Yes, it will be an inclusion event.
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.