Opportunity Zones are census tracts targeted for enhanced economic development as a result of 2017 Tax Cut and Jobs Act. Investors may utilize a Qualified Opportunity Fund (QOF) for investing in these zones. Taxes can be deferred on any prior gains invested in a QOF until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment in held for longer than 5 years, there is a 10% exclusion of the deferred gain, which becomes 15% if the investment is held for at least 7 years. After 10 years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged. The IRS recently updated guidance on Opportunity Zone investing and more information on Opportunity Zones is now available from the IRS at https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions.