excess noncash income
Defined in 1 place of the United States Code.
For purposes of subsection (a)(1)(B), the term “excess noncash income” means the excess (if any) of—
(A) the amount determined under paragraph (2) for the taxable year, over
(B) 5 percent of the real estate investment trust taxable income for the taxable year determined without regard to the deduction for dividends paid (as defined in section 561) and by excluding any net capital gain.
Source
- 1994–present26 U.S.C. § 857Internal Revenue Code · Taxation of real estate investment trusts and their beneficiaries · for purposes of this title