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IRS.gov Website
Publication 544
taxmap/pubs/p544-010.htm#en_us_publink100042260

Rollover of Gain From Sale of Empowerment Zone Assets(p21)

rule
If you sold a qualified empowerment zone asset that you held for more than 1 year, you may be able to elect to postpone part or all of the gain that you would otherwise include in income. If you make the election, you generally recognize gain on the sale only to the extent, if any, that the amount realized on the sale is more than the cost of qualified empowerment zone assets (replacement property) you purchased during the 60-day period beginning on the date of the sale. The following rules apply.
See the Instructions for Form 8949, and the Instructions for Schedule D (Form 1040) for details on how to report the exclusion. Report the sale or exchange of empowerment zone business property on Form 4797. See the Instructions for Form 4797.