### Question
What does qualified business unit mean?


### Answer
**Qualified business unit** has the following meaning in *26 U.S.C. § 989*:

> any separate and clearly identified unit of a trade or business of a taxpayer which maintains separate books and records

#### Citation:
  - *26 U.S.C. § 989*
  - 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 III-INCOME FROM SOURCES WITHOUT THE UNITED STATES > Subpart J-Foreign Currency Transactions**

