### Question
How is the term excess reported amount defined?


### Answer
The term **excess reported amount** is defined in *26 U.S.C. § 871* as the following:

> the excess of the aggregate reported amount over the qualified short-term gain of the company for the 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**

