QOFs Surpass $3B Mark
Articles by: Richey May, Nov 21, 2019
The market response to the release of U.S. Department of Treasury guidance in late 2018 and April 2019 related to the opportunity zones program has been very encouraging. According to Novogradac’s Opportunity Funds Listing, Quality Opportunity Funds (QOFs) raised $3.2 billion! While the article in Connect Media about commercial real estate (linked below) provides a breakout of the different sectors in which these investments raised capital, residential and commercial investments seem strong while investments in operating business is lagging. In order to be eligible to receive the minimum 15% reduction in capital gains, a taxpayer needs to invest by the end of the 2019 calendar year. The next regulatory guidance could be released by early December 2019 by the U.S. Department of Treasury. To learn more about the industry sector wise breakout on investments in QOFs, read the article: https://www.connectcre.com/stories/qofs-funds-surpass-3b-mark/
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