### Question
How does ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME define qualified property or services?


### Answer
Under *26 U.S.C. § 132*, **qualified property or services** is defined as:

> any property (other than real property and other than personal property of a kind held for investment) or services which are offered for sale to customers in the ordinary course of the line of business of the employer in which the employee is performing services

#### Citation:
  - *26 U.S.C. § 132*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART III-ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME**

