### Question
How does TAX BENEFITS FOR GO ZONES define qualified Gulf Opportunity Zone clean-up cost?


### Answer
Under *26 U.S.C. § 1400N*, **qualified Gulf Opportunity Zone clean-up cost** is defined as:

> any amount paid or incurred during the period beginning on August 28, 2005, and ending on December 31, 2007, for the removal of debris from, or the demolition of structures on, real property which is located in the Gulf Opportunity Zone and which is—


(A) held by the taxpayer for use in a trade or business or for the production of income, or


(B) property described in section 1221(a)(1) in the hands of the taxpayer

#### Citation:
  - *26 U.S.C. § 1400N*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter Y-Short-Term Regional Benefits > PART II-TAX BENEFITS FOR GO ZONES**

