gains invested in gigabit opportunity zones (a) In general (1) Exclusion of gain invested in gigabit opportunity zone property In the case of gain from the sale to, or exchange with, an unrelated person of any property held by an eligible taxpayer, at the election of the eligible taxpayer— (A) gross income for the taxable year shall not include so much of such gain as does not exceed the aggregate cost of all qualified gigabit opportunity zone property acquired by the taxpayer during the 180-day period beginning on the date of such sale or exchange, and (B) the amount of gain excluded by subparagraph (A) shall be included in gross income as provided by paragraph (2). (2) Deferral of gain invested in qualified gigabit opportunity zone property (A) Year of inclusion Except as provided by subparagraph (C), gain to which paragraph (1)(B) applies shall be included in income in the taxable year in which the qualified gigabit opportunity zone property related to such gain is sold or exchanged in the amount determined under subparagraph (B). (B) Amount includible The amount of gain determined under this clause shall be— (i) 100 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for less than 5 years, (ii) 90 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for at least 5 years but less than 7 years, and (iii) 85 percent of such gain in the case of the sale or exchange of the qualified gigabit opportunity zone property with respect to which gain is deferred under paragraph (1) that is held for at least 7 years. (3) Exclusion of gain on qualified gigabit opportunity zone property held for at least 10 years Except as provided in paragraph (2), in the case of the sale or exchange of qualified gigabit opportunity zone property, or an investment in a qualified