### Question
What does qualified community business property mean?


### Answer
**Qualified community business property** has the following meaning in *26 U.S.C. § 1400F*:

> tangible property if—



(i) such property was acquired by the taxpayer by purchase (as defined in section 179(d)(2)) after December 31, 2001, and before January 1, 2010,



(ii) the original use of such property in the renewal community commences with the taxpayer, and



(iii) 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

#### Citation:
  - *26 U.S.C. § 1400F*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter X-Renewal Communities > PART II-RENEWAL COMMUNITY CAPITAL GAIN; RENEWAL COMMUNITY BUSINESS**

