A new working paper from the Treasury Department's Office of Tax Analysis puts hard numbers on the Opportunity Zone program's first seven years: roughly $112 billion invested through about 12,800 Qualified Opportunity Funds, held by roughly 41,000 investors. The aggregate value of deferred capital gains stood at $75 billion at the end of 2024 — gains that become taxable when the OZ 1.0 deferral period ends December 31, 2026. Early investors who entered by the end of 2019 or 2021 also received a 15% or 10% basis step-up, softening their eventual bills. The report lands as pre-2027 investors weigh exits, reinvestment into new QOFs, and the transition rules in IRS Notice 2026-40.
- home.treasury.gov, as of July 31, 2026
- cnbc.com, as of July 31, 2026
Original reporting by the Opportunity Zone Invest Editorial Team for Opportunity Zone Invest, an independent OZ 2.0 research site. Facts are drawn from the primary sources cited above per our editorial standards. Nothing here is tax, legal, or investment advice. Found an error? See our corrections policy or write to Opportunity Zone Invest.
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