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Capital Gains

The profit you make when you sell an asset (like stocks, bonds, or real estate) for more than you paid for it.

Internal Revenue Code of 1986

The main body of tax law in the United States, which the IRS uses to collect taxes.

Brownfield Sites

Real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.

Superfund Sites

Sites contaminated with hazardous waste that are identified by the Environmental Protection Agency (EPA) for cleanup under a federal program.

Qualified Distressed Opportunity Fund

An investment fund (like a corporation or partnership) that is set up to invest at least 90% of its money into specific properties or businesses in 'distressed opportunity zones'.

Distressed Opportunity Zones

Geographically defined areas, intended to include places like brownfield and superfund sites, that are targeted for economic development through these special investment incentives.

Basis

For tax purposes, the original cost of an asset, which is used to calculate capital gains or losses when the asset is sold. If you buy a stock for $100, your basis is $100.