qualified community stock

(A)Except as provided in subparagraph (B), the term “qualified community stock” means any stock in a domestic corporation if— (i)such stock is acquired by the taxpayer after, and before, at its original issue (directly or through an underwriter) from the corporation solely in exchange for cash, (ii)as of the time such stock was issued, such corporation was a renewal community business (or, in the case of a new corporation, such corporation was being organized for purposes of being a renewal community business), and (iii)during substantially all of the taxpayer’s holding period for such stock, such corporation qualified as a renewal community business. (B)A rule similar to the rule ofshall apply for purposes of this paragraph.

Source

26 USC § 1400F(b)(2)(A)


Scoping language

For purposes of this section
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