### Question
How does NORMAL TAXES AND SURTAXES define qualified individual?


### Answer
Under *26 U.S.C. § 165*, **qualified individual** is defined as:

> any individual, except an individual—


(A) who owns at least 1 percent in value of the outstanding stock of the qualified financial institution,


(B) who is an officer of the qualified financial institution,


(C) who is a sibling (whether by the whole or half blood), spouse, aunt, uncle, nephew, niece, ancestor, or lineal descendant of an individual described in subparagraph (A) or (B), or


(D) who otherwise is a related person (as defined in section 267(b)) with respect to an individual described in subparagraph (A) or (B)

#### Citation:
  - *26 U.S.C. § 165*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

