Tax Facts

7830 / How do taxpayers who invest in qualified opportunity funds elect defer gain?

For taxpayers who have made a sale where the proceeds qualify for capital gain treatment, they may invest all or a part of that gain in a qualified opportunity fund and defer recognizing the gain under the opportunity zone rules. The taxpayer makes the election on his or her tax return by attaching a completed Form 8949 to the return. For multiple investments occurring on different dates, the taxpayer uses multiple rows of the form to report the deferral election.



If the taxpayer has already filed the relevant tax return, he or she will need to file an amended return to make the election.

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