### Question
What is the definition of qualified community partnership interest?


### Answer
The definition of **qualified community partnership interest** is as follows in *26 U.S.C. § 1400F*:

> any capital or profits interest in a domestic partnership if—



(A) such interest is acquired by the taxpayer after December 31, 2001, and before January 1, 2010, from the partnership solely in exchange for cash,



(B) as of the time such interest was acquired, such partnership was a renewal community business (or, in the case of a new partnership, such partnership was being organized for purposes of being a renewal community business), and



(C) during substantially all of the taxpayer's holding period for such interest, such partnership qualified as a renewal community business

#### 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**

