If the tangible property meets the statutory requirements, it'll be Qualified Opportunity Zone Business Property (QOZBP) and count as "good property" under the 70% test.
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What happens if tangible property is acquired with covered working capital under the new Final Regulations for Opportunity Zones?
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If the tangible property is expected to be Qualified Opportunity Zone Business Property (QOZBP), then the tangible property will be treated QOZBP during the period covered by the working capital safe harbor.
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