The new tax bill, which passed in 2017, introduced Opportunity Zone 1.0 and OZ 2.0, which allow for investment in a qualified opportunity fund (QOF). These rules require a new designation of an opportunity zone and require complex tax rules. The investment must be made within 180 days of realizing the gain and can be deferred to a later tax year. The OZ 1.5 rules allow a gain to be deferred for five years from the time the investment is made, provided the investor stays in the investment after five years. However, any appreciation in the initial investment can avoid any tax effect if it is held for 10 or more years. The ability to defer gains from OZ.0 ends this year to allow evaluation of the efficiency of the provisions.