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Tax law & IRS updates · Oct 29, 2026

Opportunity Zone Deadline: Deferred Gains Come Due December 31, 2026 as "QOZ 2.0" Starts January 1, 2027

Under IRS Notice 2026-40, gain deferred through a Qualified Opportunity Fund investment made on or before December 31, 2026 is included in income on December 31, 2026 and reported on 2026 returns with Form 8997, even if the investor has not sold. Starting January 1, 2027, OBBBA's permanent QOZ 2.0 rules bring a rolling 5-year deferral, a 10% basis increase (30% for rural funds) and newly designated zones, while proposed QOF reporting rules (REG-116506-25) face a November 5, 2026 hearing.

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