Taxpayers who invest eligible capital gains into qualified opportunity funds can potentially take advantage of significant federal income tax benefits.  Among these benefits are the potential deferral of such capital gains until Dec. 31, 2026 and the potential to avoid income tax completely on any gains accrued on the investment in the qualified opportunity fund if the investment is held for at least 10 years.  However, in order to qualify as a qualified opportunity fund, an entity's assets must generally have been acquired by purchase after 2017.  Thus, without further structuring, a taxpayer who owns property in a qualified opportunity zone that it purchased before 2018 would be unable to benefit from these rules.