Economic Empowerment - Heard the buzz about opportunity zone funds? Here's the skinny
November 27, 2018 at 5:25 pm,
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- At the end of last year, $6.1 trillion in capital gains was sitting in mutual funds, stocks and corporations that investors had not cashed in, according to the Economic Innovation Group.
- The idea is to funnel such unrealized capital gains to economically struggling areas by offering a tax break to investors who reinvest their gains in so-called opportunity zone funds.
- Recent federal guidance for setting up these funds is likely to spur more funds being created as investors look for ways to get in on the program.