Yzzi and Company
Second , if the taxpayer holds its interest in an opportunity fund for five years, it can step up its basis in the opportunity fund by an amount equal to 10% of the deferred gain with respect to the original property and, if the taxpayer holds its interest in the opportunity fund for seven years, it can step up its basis in the opportunity fund by an amount equal to an additional 5% of the deferred gain with respect to the original property (for a total of 15%). The stepped-up basis reduces the amount of gain recognized by the taxpayer at the end of the deferral period.
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- How Long the New Worker Was Unemployed.
- The Employee’s Salary.
- The Number of Hours Worked in the First Year.
Sentiment Analysis
He is highly knowledgeable, stays on top of the latest tax laws, and is always able to answer our questions and address our concerns.
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