### Question
How is the "qualified person" defined?


### Answer
The term **qualified person** is defined in *26 U.S.C. § 49* as follows -

> any person which is actively and regularly engaged in the business of lending money and which is not—


(I) a related person with respect to the taxpayer,


(II) a person from which the taxpayer acquired the property (or a related person to such person), or


(III) a person who receives a fee with respect to the taxpayer's investment in the property (or a related person to such person)

#### Citation:
  - *26 U.S.C. § 49*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart E-Rules for Computing Investment Credit**

