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How can I amend my federal tax return to defer tax on gain invested in an Opportunity Zone?

I already filed my taxes but didn’t include the gains invested in a QOF. Is there a way to make this change without penalties?


Answers
  • Matthew Rappaport
    August 24, 2021

    Yes, if you need to do 1031 exchange reporting, you can amend for that reason. If it's a personal return, you'll need to file Form 1040X. Consult your tax advisor for mechanics.

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