Making sure you get your capital gain into a Qualified Opportunity Zone Fund within 180 days from the date of your sale is the ninth thing not to do with your QOF transaction. We will start with our handy dandy Opportunity Zone Cheat Sheet. You need to start with a capital gain from a sale to an unrelated party, and that gain must be placed into a QOF within 180 days.
It is crucial to remember, your 180 days starts counting on the date of sale. If the gain came through a K1, then you’ll have 180 days from March 15th, which, depending on whether it’s a leap year or not, will put you around September 10th or 11th. Make sure you get the money in prior to those 180 days, because if you do not, you will not be qualified to roll that capital gain into a Qualified Opportunity Zone Fund.
Now that you know what not to do, find out what to do by downloading the Opportunity Zone Cheat Sheet, scheduling a Strategy Call, or signing up for the OZPros Compliance Bootcamp, where we run through questions just like this. We look forward to answering your Opportunity Zone questions and helping you do your Qualified Opportunity Zone transaction correctly.