If your 2019 gains are still eligible for deferral, you would need to file an amended 2019 return to record your OZ investment and accompanying deferral.
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How can I elect to defer tax on gain after I have already filed my 2019 tax return?
How can I elect to defer tax on gain after I have already filed my 2019 tax return?
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You could try to amend, but the regulations provide the gain must be deferred through an election made on IRS Form 8949 attached to a timely filed federal income tax return. The amended return might knock you out of eligibility. Consult your accountant.
In order to defer gains that were reported on your 2019 tax return, you will need to amend your 2019 filing to show the reduction in gain as well as complete Form 8997.
File an amended return.
You will need to file an amended tax return and attach form 8949 duly filled.
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