qualified acquisition costs
Defined in 2 places across 2 titles of the United States Code.
For purposes of this paragraph, the term “qualified acquisition costs” means the costs of acquiring, constructing, or reconstructing a residence. Such term includes any usual or reasonable settlement, financing, or other closing costs.
Source
- 1997–present26 U.S.C. § 72Internal Revenue Code · Annuities; certain proceeds of endowment and life insurance contracts · under this chapter
The term “qualified acquisition costs” means the costs of acquiring, constructing, or reconstructing a residence. The term includes any usual or reasonable settlement, financing, or other closing costs.
Source
- 1996–present42 U.S.C. § 604The Public Health and Welfare · Use of grants · under this part