Gunster attorney Alan Lederman co-authors a discussion with Bradley Borden in a recent Bloomberg BNA article. Lederman and Borden explain the framework for new tax code Section 1400Z-2(a) while discussing how an investment real estate gain in qualified opportunity funds (QOF) can be highly beneficial. In addition to the framework for new tax code Section 1400Z-2(a), the article explains the benefits, eligibility, and timing of an investment of real estate gain in a QOF. In the basis of this tax code, any cash retained from the sale of a relinquished QOF property, aside from the tax basis of the relinquished property, is not taxable. Though this new framework brings benefits, one disadvantage of a QOF investment is the 2026 triggering of most or all of the gain. Nevertheless, the tax benefits will make investing in QOFs very attractive to many investors.
Alan Lederman concentrates his practice in tax law where he has considerable experience in most aspects of income tax planning and income tax controversies, including those related to international transactions. His clients range from major multinational corporations to local businesses. Lederman is a nationally known author and speaker.