excess noncash income

(1) In general For purposes of subsection (a)(1)(B), the term “excess noncash income” means the excess (if any) of— (A) the amount determined under paragraph (2) for the taxable year, over (B) 5 percent of the real estate investment trust taxable income for the taxable year determined without regard to the deduction for dividends paid (as defined in section 561) and by excluding any net capital gain.

Source

26 USC § 857(e)(1)

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Scoping language

None identified, default scope is assumed to be the parent (part II) of this section.

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