Opportunity Zones / Capital Gains

[Andy Pillinger]

Hi All.!

Less than a year ago did a 1031 and bought a new build duplex for 305K that i now realized is in an O.Z. This year i am going to have a large capital tax bill to pay in the region of 100K.  Does anyone know enough about Opportunity Zones to know whether i can defer these funds for this new one i bought last september?. Thanks in advance for any advise . 

Regards

Andy   

[Natalie Kolodij]

You can't do any thing retroactively. 

Owning a property that happens to be in an opportunity zone offers you no benefit unfortunately. 

You can defer that gain by investing in a different property in an opportunity zone though.