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Zero Percent Capital Gain |
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A business owner with an Atlanta Renewal Community business asset that was acquired after December 31, 2001 and before January 1, 2010 does not have to include any "qualified capital gain" from the asset's sale or exchange in its calculation of taxable gross income.
Requirements:
- Business owner must hold the asset for a minimum of five years.
- Business must employ at least 35% of its workforce from within the Renewal Community during those five years.
The following qualify as RC assets: RC business stock, RC partnership interests, or RC business properties. Only gains attributable to the period from January 1, 2002 through December 31, 2014 are eligible.
Who’s Eligible?
New business partnerships or corporations that issue new stock or ownership interests for entities with operations in the Renewal Community.
- Existing businesses with operations in the Renewal Community that issue new stock or acquire new ownership interests.
- Qualified business entities that purchase real estate in the Renewal Community.
Download Form and Publication:
Publication 550 Investment Income and Expenses
The Atlanta Renewal Community (RC) includes more than 100 neighborhoods. Visit www.hud.gov/crlocator to determine if your property is located in the Renewal Community.
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