TITLE 26. INTERNAL REVENUE CODE § 1400Z-2. Special rules for capital gains invested in opportunity zones., 26 USCS § 1400Z-2

Summary

(a) In general.

(1) Treatment of gains. In the case of gain from the sale to, or exchange with, an unrelated person of any property held by the taxpayer, at the election of the taxpayer—

(A) gross income for the taxable year shall not include so much of such gain as does not exceed the aggregate amount invested by the taxpayer in a qualified opportunity fund during the 180-day period beginning on the date of such sale or exchange,

(B) the amount of gain excluded by subparagraph (A) shall be included in gross income as provided by subsection (b), and

(2) Election. No election may be made under paragraph (1)—

(A) with respect to a sale or exchange if an election previously made with respect to such sale or exchange is in effect, or

(B) with respect to any sale or exchange after December 31, 2026.

(b) Deferral of gain invested in opportunity zone property.

(1) Year of inclusion. Gain to which subsection (a)(1)(B) applies shall be included in income in the taxable year which ...