Source: https://www.law.cornell.edu/uscode/text/26/1400F
Timestamp: 2017-06-25 22:47:18
Document Index: 447880697

Matched Legal Cases: ['§ 1400', '§ 1400', '§ 1400', '§\u202f1400', '§\u202f1', '§\u202f101', '§\u202f310', '§\u202f110', '§\u202f322']

26 U.S. Code § 1400F - Renewal community capital gain | US Law | LII / Legal Information Institute
U.S. Code › Title 26 › Subtitle A › Chapter 1 › Subchapter X › Part II › § 1400F 26 U.S. Code § 1400F - Renewal community capital gain
§ 1400F.
Renewal community capital gain
(b) Qualified community assetFor purposes of this section—
(1) In generalThe term “qualified community asset” means—
(2) Qualified community stock
(A) In generalExcept as provided in subparagraph (B), the term “qualified community stock” means any stock in a domestic corporation if—
during substantially all of the taxpayer’s holding period for such stock, such corporation qualified as a renewal community business.
(3) Qualified community partnership interestThe term “qualified community partnership interest” means any capital or profits interest in a domestic partnership if—
during substantially all of the taxpayer’s holding period for such interest, such partnership qualified as a renewal community business.
(4) Qualified community business property
(A) In generalThe term “qualified community business property” means tangible property if—
during substantially all of the taxpayer’s holding period for such property, substantially all of the use of such property was in a renewal community business of the taxpayer.
(B) Special rule for substantial improvementsThe requirements of clauses (i) and (ii) of subparagraph (A) shall be treated as satisfied with respect to—
The determination of whether a property is substantially improved shall be made under clause (ii) of section 1400B(b)(4)(B), except that “December 31, 2001” shall be substituted for “December 31, 1997” in such clause.
(c) Qualified capital gainFor purposes of this section—
(1) In generalExcept as otherwise provided in this subsection, the term “qualified capital gain” means any gain recognized on the sale or exchange of—
(2) Gain before 2002 or after 2014 not qualified
The term “qualified capital gain” shall not include any gain attributable to periods before January 1, 2002, or after December 31, 2014.
(d) Certain rules to apply
For purposes of this section, rules similar to the rules of paragraphs (5), (6), and (7) of subsection (b), and subsections (f) and (g), of section 1400B shall apply; except that for such purposes section 1400B(g)(2) shall be applied by substituting “January 1, 2002” for “January 1, 1998” and “December 31, 2014” for “December 31, 2014”.
(Added Pub. L. 106–554, § 1(a)(7) [title I, § 101(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–594; amended Pub. L. 108–311, title III, § 310(c)(2)(C), Oct. 4, 2004, 118 Stat. 1180; Pub. L. 109–432, div. A, title I, § 110(c)(2)(C), Dec. 20, 2006, 120 Stat. 2940; Pub. L. 110–343, div. C, title III, § 322(c)(2)(C), Oct. 3, 2008, 122 Stat. 3874.)
2008—Subsec. (d). Pub. L. 110–343 substituted “2014’.” for “2012’.”.
2006—Subsec. (d). Pub. L. 109–432 substituted “2012” for “2010”.
2004—Subsec. (d). Pub. L. 108–311 substituted “2010” for “2008”.
Amendment by Pub. L. 108–311 effective Jan. 1, 2004, see section 310(e)(1) of Pub. L. 108–311, set out as a note under section 1400 of this title.