The OZ program applies to properties "used in a trade or business," and therefore, I expect that it would not apply to your home, which I presume you are using as a personal residence.
I heard the Federal Housing Administration is launching an incentive to help make OZ properties more attractive. How can I get this loan and what kind of home repairs are included?
The OZ program applies to properties "used in a trade or business," and therefore, I expect that it would not apply to your home, which I presume you are using as a personal residence.
Your home would have to be converted to a rental. The Opportunity Zone program must have an active trade or business. You also would have to double the basis of tangible property.
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