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Why the October 15th Deadline Matters

by Sean Raft, on Aug 13, 2020 5:08:46 PM

time-running-out

Have you experienced a capital gain from the sale of stock, the sale of real estate, or the sale of a business? Did you know that if you had a capital gains event that occurred on or after October 4, 2019, you may still be eligible to invest in an Opportunity Zone Fund? 

And, if you’ve opted for a late tax filing date for 2019, you now have until October 15th to invest your capital gains from 2019 to avoid paying capital gains taxes without having to file an amended return. 

Here’s why now is the time to take action: 

  • If you invest in an Opportunity Zone Fund in time to include the investment in your late-filed 2019 tax return, you may be eligible to defer the taxes on the gain invested. 
  • Even though you are eligible to invest your 2019 capital gains into an Opportunity Zone Fund through December 31st, you can avoid the hassle, time, and cost of filing an amended return after October 15 by including the investment in your 2019 tax return. 

Don’t end up paying taxes on your capital gains when there’s an alternative. Opportunity Zone investments allow you to defer and potentially eliminate federal capital gains taxes. 

Don’t miss out on this “once-in-a-lifetime” tax deferral program. You can invest in our portfolio of seven projects consisting of residential, office, hotel, and retail developments in the heart of Silicon Valley.

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Topics:Opportunity ZonesSan JoseSilicon ValleyOpportunity FundUrban Catalyst