qualified prize option
Defined in 1 place of the United States Code.
The term “qualified prize option” means an option which—
(i) entitles an individual to receive a single cash payment in lieu of receiving a qualified prize (or remaining portion thereof), and
(ii) is exercisable not later than 60 days after such individual becomes entitled to the qualified prize.
Source
- 1998–present26 U.S.C. § 451Internal Revenue Code · General rule for taxable year of inclusion · for purposes of this title