Puerto Rico Opportunity Fund
Redeveloping Real Estate in Puerto Rico Opportunity Zones
Puerto Rico Opportunity Fund I is an LLC that specializes in aggregating private investments and deploying that capital throughout designated Puerto Rico Opportunity Zones. Our investors may reinvest capital gains from any existing investments into Puerto Rico Opportunity Fund I and defer/reduce their capital gains taxes.
More than 90% of Puerto Rico Opportunity Fund I assets are located within qualified Puerto Rico Opportunity Zones. Qualified Opportunity Zone properties are tangible property acquired after December 31,2017 and used in a Qualified Opportunity Zone.
DEFERRAL TIMELINE:
After realizing an eligible gain, the taxpayer generally must invest in a QOF within 180 days beginning after the date of sale or exchange giving rise to the gain.
The taxpayer's basis in the QOF initially is zero but will be increased by 10% of the deferred gain if investment is held for 5 years and increased by an additional 5% if the investment is held for 7 years, an overall basis step-up of 15%.
For investments held for at least 10 years, the taxpayer will recognize no capital gain on the appreciation of the asset from the time of the initial investment in the QOF through the ultimate sale (10 Year Gain Exclusion).