qualified derivative payment
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 59A — for purposes of this section
The term "qualified derivative payment" means any payment made by a taxpayer pursuant to a derivative with respect to which the taxpayer—
(i) recognizes gain or loss as if such derivative were sold for its fair market value on the last business day of the taxable year (and such additional times as required by this title or the taxpayer's method of accounting),
(ii) treats any gain or loss so recognized as ordinary, and
(iii) treats the character of all items of income, deduction, gain, or loss with respect to a payment pursuant to the derivative as ordinary.