The original use test is determined based upon whether tangible property, for purposes of depreciation or amortization, had previously been placed in service in an qualified opportunity zone. If it has, the tangible property must be substantially improved. If it has not, the tangible property will satisfy the original use requirement so long as the Qualified Opportunity Fund or Qualified Opportunity Zone Business is the first to have used that property in a qualified opportunity zone for purposes of depreciation or amortization. This effectively allows used tangible property to qualify as original use property when you are the first to have depreciated or amortize the tangible property in an opportunity zone.
