### Question
How is the term qualified long-term real property defined?


### Answer
The term **qualified long-term real property** is defined in *26 U.S.C. § 110* as the following:

> nonresidential real property which is part of, or otherwise present at, the retail space referred to in subsection (a) and which reverts to the lessor at the termination of the lease

#### Citation:
  - *26 U.S.C. § 110*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART III-ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME**

