Rather than try to explain what a QOF is, it is sufficient to know that a traditional investment club, such as the type that can use bivio, would not be a QOF, nor could it invest in one as it wouldn't be possible to determine the change in value of the QOF on a daily basis.
Ira Smilovitz, EA
I found these attachments enlightening but confusing as I'm not familiar with the sugget matter. My impression from reading is that a Qualified Opportunity Fund is like a REIT. Hope this information helps and someone can enlighten us. Thanks
Partner of two Investment clubs
I haven't done anything yet. I was told by someone to try calling them. I am wondering if this is another thing like last time when a lot of clubs got the same message which turned out to be the fault of the IRS. I will try calling the IRS tomorrow. Thats just such a long process.
My club just got the same notice today. Can you fill me in
on what, if anything, has happened with your club. I have
no idea what it means.