Understanding The Facts & Looking Beyond The Hype
The Tax Cuts and Jobs Act (TCJA) authorized the designation of certain economically disadvantaged communities referred to as Qualified Opportunity Zones (QOZ). Investing gains realized from other investments into QOZs provide for a temporary deferral of gains from the sale of property when these gains are invested in a Qualified Opportunity Fund (QOF), and a potential permanent exclusion from income if an investment in a QOF is held by a taxpayer for at least 10 years. This provision is intended to encourage economic investment and growth in these distressed communities. 记住，这是收益再投资，而不是总收益.
什么是合格机会区?
QOZ是一个低收入社区的指定区域. IRS必须认证并确认该社区为QOZ. The meaning of a low-income community is similar to that used for the new markets tax credit. It includes any population census tract with a poverty rate of at least 20 percent and also includes a tract whose median family income does not exceed 80 percent of the statewide median family income. 指位于大都市地区内的大片土地, 标准是全州家庭收入中位数的80% or B)都市地区家庭收入中位数. 在国税局的指导下，各州州长指定了指定为QOZ的特定区域. 提名程序需要在2018年3月21日之前完成. 美国国税局2018-48号公告列出了已被认证为qos的人口普查区.
什么是合资格机会基金?
A QOF is any investment vehicle that 1) is organized as a corporation or partnership for investing in property in a QOZ and 2)至少90%的资产是QOZ的财产. The 90 percent test is fulfilled if the average percentage of QOZ property held by the fund on the last day of the first half of the tax year and the last day of the tax year is at least 90 percent. 请注意，一个QOF不能被组织为投资其他QOF的目的. QOF每个月都不能通过90%的测试，就会被处以罚款. The penalty amount is computed as follows: (90 percent of aggregate assets − aggregate amount of QOZ property) × the underpayment rate for the month as defined by the IRS. 如果失败是由于合理的原因，则免除罚款.
纳税人自行证明成为合格申报者. 不需要美国国税局的批准或行动. A partnership or corporation self-certifies to become a QOF by completing Form 8996 (Qualified Opportunity Fund) and attaching it to a timely filed (including extensions) tax return. 此外，QOF的纳税申报表会有额外的问题需要回答.
Read Also: 房地产行业的税收优惠依然存在
什么是合格机会区物业?
QOZ财产包括以下内容:
- QOZ Stock QOZ股票是指QOF在2017年之后在最初发行时获得的股票, 从一家国内公司借现金. 在股票发行的时候, the main requirement is that substantially all the tangible property owned or leased by the corporation must be QOZ business property. The corporation must satisfy all requirements during substantially all of the QOF’s holding period in the stock.
- QOZ Partnership Interests – QOZ partnership interests are capital or profits interests issued by a domestic partnership for cash after 2017. 前面解释的QOZ要求也适用于QOZ合伙企业的利益.
- QOZ Business Property – This is tangible property used in a trade or business if 1) the property is purchased by the QOF after December 31, 2017; 2) the original use of the property in the QOZ starts with the QOF (or the QOF substantially improves the property); and 3)在QOF持有该物业的整个期间内, 该物业的大部分用途都在QOZ内. 大幅改善物业, the QOF must increase the basis of the property acquired by an amount that essentially doubles the basis within a 30 month period following acquisition.
投资于合资格机会基金有何税务优惠?
投资qos的两个主要税收优惠是:
- Temporary deferral of the gain from the sale of property when the gain is reinvested in a QOF.
- 从QOF获得收益的永久延迟.
The temporary deferral of the original gain that resulted from property sold to an unrelated person is deferred for any portion of the gain invested in a QOF within 180 days. 对于可递延收益的金额没有限制. This gain from the temporary deferral election is included in income in the tax year that includes the earlier of:
- QOF的投资被出售或交换的日期或
- December 31, 2026.
收入中包含的收益金额为 lesser of:
- 在选举或
- 投资的公平市场价值.
Listen to episode 162“如果你建造它，他们就会来”，这是雷亚获奖播客的一部分， unsuitable on Rea Radio，采访了该公司建筑和房地产服务团队主管道格•豪瑟(Doug Houser).
然后在QOF的投资中扣除可包括金额的税基. 投资的税基一般为零. However, the basis is increased by an amount equal to 10 percent of the gain temporarily deferred if the investment is held for at least five years and increased by an additional 5 percent of the gain deferred if the investment is held for at least seven years. 如果投资至少持有到12月10日. 2026年1月31日的基础上增加了剩余85%的递延收益.
如果QOF投资持有至少10年, there is a permanent deferral of post-acquisition gain the from the QOF investment upon disposition. This is accomplished by increasing the investment’s basis to its fair market value on the date the investment is sold or exchanged. The permanent deferral election does not prevent the recognition of gain that was deferred under the temporary gain deferral election. 由于在12月12日之前不可能持有投资10年. 31, 2026, the permanent exclusion election only excludes gain in excess of the deferred gain. 因此，只有收购后收益被排除在外. The gain from the QOF sale is reported on Form 8949, Sales and other Dispositions of Capital Assets.
因为税法的书写方式, 获得QOF的全部好处, 投资QOF的最晚日期是12月. 31, 2019. 超过这一日期，投资者将因基差上调而蒙受损失.
Example:
Taxpayer has an unrealized long term gain of $1,000,000 from the sale of stock purchased in 2010. The gain was realized on Oct. 15, 2018. 纳税人有180天的时间(截至4月1日), 2019年)决定将收益再投资到QOF的投资中. 递延税款为238,000美元(1,000,000美元× 23美元).8 percent).
Taxpayer decides to invest in a QOF that is organized as a partnership and its capital is invested in various operating businesses that are located in designated QOZs. 纳税人QOF将至少90%的资产投资于QOZ房地产. In 2027, the investment is sold when the QOF is worth $2,000,000 ($1,000,000 of appreciation).
潜在的税收优惠如下:
- Temporary deferral of the gain –15 percent of the deferred realized gain will be excluded since the QOF was held for more than seven years. Capital gain tax of $202,原始递延收益(1美元)将于2026年到期,000,000 x 85% x 23.8 percent).
- Permanent deferral of gain –There is no tax due on the $1,000,000 of post-acquisition gain form QOF.
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Looking beyond the hype
QOFs经历了很多炒作. 尽管QOFs提供了一个延迟和永久排除收入收益的机会, 税收应该是唯一的焦点吗? Promoters may see this as an opportunity to service the demands of investors while increasing their bottom line through management fees. 立法者把这个写入法律的目的是什么? 为什么需要税收激励来鼓励在这些领域的投资? Some high net worth investors may look at this as a way to give back to under-served communities. 其他人甚至可能没有考虑到不利因素.
整体财务投资需要有一个目的，并成为整体财务计划的一部分. 这是一项长期投资，有许多未知因素，没有历史基准. 这类投资的流动性是什么?
审查潜在的金融投资需要尽职调查, a financial plan, 以及对投资预测的回顾. 尽管QOFs提供了一个节省税收的机会, 未知因素需要从长远的角度来审视.
给Rea的建筑和房地产服务团队发邮件，进一步讨论这个问题.
By Cindy Kula, CPA/PFS, CFP® (Cleveland office)