acquisition indebtedness
Defined in 3 places of the United States Code.
For purposes of this section, the term “acquisition indebtedness” means, with respect to any debt-financed property, the unpaid amount of—
(A) the indebtedness incurred by the organization in acquiring or improving such property;
(B) the indebtedness incurred before the acquisition or improvement of such property if such indebtedness would not have been incurred but for such acquisition or improvement; and
(C) the indebtedness incurred after the acquisition or improvement of such property if such indebtedness would not have been incurred but for such acquisition or improvement and the incurrence of such indebtedness was reasonably foreseeable at the time of such acquisition or improvement.
Source
- 1994–present26 U.S.C. § 514Internal Revenue Code · Unrelated debt-financed income · for purposes of this section
The term “acquisition indebtedness” means any indebtedness which—
(I) is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer, and
(II) is secured by such residence.
Source
- 2013–present26 U.S.C. § 163Internal Revenue Code · Interest · under this chapter
The term "acquisition indebtedness" means any indebtedness which—
(I) is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer, and
(II) is secured by such residence.
Such term also includes any indebtedness secured by such residence resulting from the refinancing of indebtedness meeting the requirements of the preceding sentence (or this sentence); but only to the extent the amount of the indebtedness resulting from such refinancing does not exceed the amount of the refinanced indebtedness.
Source
- 1994–202226 U.S.C. § 163Internal Revenue Code · Interest · under this chapter
The term “acquisition indebtedness” means, with respect to debt-financed property, the unpaid amount of—
(I) the indebtedness incurred by the donor in acquiring such property,
(II) the indebtedness incurred before the acquisition of such property if such indebtedness would not have been incurred but for such acquisition,
(III) the indebtedness incurred after the acquisition of such property if such indebtedness would not have been incurred but for such acquisition and the incurrence of such indebtedness was reasonably foreseeable at the time of such acquisition, and
(IV) the extension, renewal, or refinancing of an acquisition indebtedness.
Source
- 1997–present26 U.S.C. § 2031Internal Revenue Code · Definition of gross estate · in this part