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How can I invest in a Qualified Opportunity Fund using my capital gains from cryptocurrency?
Does it matter which state my fund is in?
Answers
You can invest capital gains from crypto into QOFs, and no, it doesn't matter which state the QOF has projects in.
For federal income tax purposes, it does not matter where the capital gains were earned. The cap gains can be deferred once invested in a qualified opportunity fund. Many QOFs available for you to invest.
Any long term capital gain can be reinvested in an Opportunity Zone - state would only matter if the state has any Op Zone benefits for state income tax. Opportunity Zone tax benefits under federal law are independent. Good luck!
You can invest capital gains from cryptocurrency in a qualified opportunity fund (QOF) like any other capital gains. The state in which your QOF is located does not matter.
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