qualified community partnership interest
Defined in 1 place of the United States Code.
The term “qualified community partnership interest” means any capital or profits interest in a domestic partnership if—
(A) such interest is acquired by the taxpayer after December 31, 2001, and before January 1, 2010, from the partnership solely in exchange for cash,
(B) as of the time such interest was acquired, such partnership was a renewal community business (or, in the case of a new partnership, such partnership was being organized for purposes of being a renewal community business), and
(C) during substantially all of the taxpayer’s holding period for such interest, such partnership qualified as a renewal community business.
Source
- 2013–present26 U.S.C. § 1400FInternal Revenue Code · Renewal community capital gain · for purposes of this section
The term "qualified community partnership interest" means any capital or profits interest in a domestic partnership if—
(A) such interest is acquired by the taxpayer after December 31, 2001, and before January 1, 2010, from the partnership solely in exchange for cash,
(B) as of the time such interest was acquired, such partnership was a renewal community business (or, in the case of a new partnership, such partnership was being organized for purposes of being a renewal community business), and
(C) during substantially all of the taxpayer's holding period for such interest, such partnership qualified as a renewal community business.
A rule similar to the rule of paragraph (2)(B) shall apply for purposes of this paragraph.
Source
- 2000–201826 U.S.C. § 1400FInternal Revenue Code · Renewal community capital gain · for purposes of this section