The Wall Street Journal.
Big Stock Windfall? New Rule Defers Taxes With Real Estate Investment
U.S. aiming to attract $100 billion in development with ‘opportunity zones’ created by tax overhaul
By Peter Grant and Gregory Zuckerman
Oct. 2, 2018
Billions of dollars have started piling into new real-estate funds targeting disadvantaged U.S. neighborhoods, as investors line up to capitalize on a section of last year’s tax overhaul.
The tax bill created more than 8,000 tax-advantaged “opportunity zones.” They range from parts of New York, Los Angeles and Washington, D.C., to rural areas and the entire U.S. territory of Puerto Rico. on Thursday, Treasury Secretary Steven Mnuchin predicted the zones will attract over $100 billion in private capital.
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