1031 exchange is a swap of one investment property for another, while deferring all or most of the capital gains that would otherwise be incurred on a regular sale of that property.

By investing in QOZs, investors can 1) defer the payment of capital gains tax on their relinquished property for several years and 2) completely avoid capital gains tax on the appreciation of the QOZ investment itself.

Alternative investments comprise the rest of the investment universe. They can run the gamut from tangible assets like collectibles, antiques, commodities & art.