Investing in a Qualified Opportunity Fund (QOF) offers both short-term and long-term tax benefits. The short-term benefit is a deferral of your original capital gains taxes. This benefit will last until December 31, 2026, or the date when you sell your QOF investment, whichever comes first.
Like most sectors, the art industry has struggled to adapt and grow through the challenges brought by Covid-19. One bright spot is the crypto art market’s growth and the individual works known as NFTs.