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Who is eligible for the benefits of Opportunity Zone investments?

Is this a U.S. citizen-only tax incentive or can permanent residents and long-term visa holders also enjoy Opportunity Zone benefits, as long as the basic requirements are met?


Answers
  • Matthew Rappaport
    July 15, 2019

    To my knowledge, non-U.S. persons are eligible for OZ tax benefits, but only under U.S. law, so that'd have to be reconciled with treatment in their home jurisdiction.

  • Scott McIntosh
    July 10, 2019

    Anyone subject to U.S. taxation is eligible to reinvest recently realized capital gains in a QOF.

  • Scott Shimick
    July 09, 2019

    Permanent residents, and other U.S. tax residents, can certainly take advantage of the benefits. Non-residents with U.S. capital gains can also receive the QOZ tax benefits. Keep in mind that there are additional complications for non-residents involving FIRPTA and tax treaties that may impact the timing of an investment in a QOF, and the value of the tax benefits. Be sure to consult an expert with knowledge of the applicable tax treaty.

  • Brad Cohen
    July 09, 2019

    Anyone with capital gains.

  • Neil Faden
    July 09, 2019

    Any U.S. taxpayer with eligible capital gain can invest.

  • Erik Kodesch
    July 08, 2019

    The benefit is available to resident aliens (permanent residents and substantially present individuals). It also is available to non-resident aliens, but there is an open question as to whether the availability for non-resident aliens is limited to capital gains that would be subject to U.S. tax (e.g., gain from the sale of real property). I personally believe that a non-resident alien can roll untaxed gain into a QOF. However, to answer your question, permanent residents and long-term visa holders can enjoy Opportunity Zone benefits, as long as the basic requirements are met.