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Do upgrades to existing buildings in opportunity zones (using capital gains) qualify for deferral treatment?

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Could be if it is deemed substantial improvement that meets the following condition and the entity is a QOZ:

"property shall be treated as substantially improved by the qualified opportunity fund only if, during any 30-month period beginning after the date of acquisition of such property, additions to basis with respect to such property in the hands of the qualified opportunity fund exceed an amount equal to the adjusted basis of such property at the beginning of such 30-month period in the hands of the qualified opportunity fund."

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