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- State reporting for Qualified Opportunity Funds (QOF) investments
State reporting for Qualified Opportunity Funds (QOF) investments
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DIYtax
Level 1
05-25-2022
02:55 PM
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On the Federal Form 8949 I entered a QOF investment (includes code Z in the column f) that defers realized capital gains. The federal return looks fine, but the QOF transaction is not flowing to the Pennsylvania state return. PA adopted conformity with the federal qualified opportunity zone (QOZ) rules, but I don’t see the transaction going to the PA Schedule D, nor do I see a way to enter it on the PA return directly. Any advice is greatly appreciated.
Alternatively, I could just exclude the deferred capital gain transactions from the PA return. Is there any way to exclude certain capital gains transactions just from the PA state return, but keep them on the federal return?
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