Taxation frustrates many in the cryptocurrency community. Investor capital gains along with Coinbase’s well-documented jockeying with the IRS, taxes continue to be an ongoing concern.

There is some good news however on the U.S. tax front with respect to these cryptocurrency valuations gains.


Embedded in the highly debated $1.5 trillion dollar tax cut signed by President Trump into the law in late 2017 is an esoteric section addressing the tax treatment of real estate and other tax assets. Known as the Investing in Opportunity Act and Opportunity Zone Investment program, it offers savvy investors the opportunity to defer and eliminate future capital gains through Qualified Opportunity Zones and Qualified Opportunity Funds.

So what are Opportunity Zones? In short, they are land parcels in low-income, geographic census tracts that have been designated for investment opportunities and favorable capital gains treatment.

The Qualified Opportunity Funds provide an investment vehicle for these zones. To obtain the maximum tax…

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Source: https://thebitcoinnews.com/the-rise-of-economic-development-zones-a-way-to-mitigate-crypto-taxation/