### Question
How is the "qualified short-term gain" defined?


### Answer
The term **qualified short-term gain** is defined in *26 U.S.C. § 871* as follows -

> the excess of the net short-term capital gain of the regulated investment company for the taxable year over the net long-term capital loss (if any) of such company for such taxable year

#### Citation:
  - *26 U.S.C. § 871*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART II-NONRESIDENT ALIENS AND FOREIGN CORPORATIONS > Subpart A-Nonresident Alien Individuals**

