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Gross income

All income from whatever source derived, including wages, salaries, business profits, and interest. This is the starting point for calculating taxable income.

Qualified lender

Specific types of financial institutions, such as insured banks, insurance companies, and certain Farm Credit System entities, that are eligible for the tax exclusion under this bill.

Qualified real estate loan

A loan secured by certain types of rural or agricultural property, including farmland, forestland, single-family rural homes (up to $750,000 principal), fishing businesses, and aquaculture facilities, that meets the criteria for the tax exclusion.

Rural or agricultural real estate

Property primarily used for farming, fishing, or aquaculture, or a single-family primary residence located in a defined rural area.

Foreign adversary entity

Individuals or organizations associated with specific countries deemed foreign adversaries, such as China, Cuba, Iran, North Korea, Russia, and Venezuela (during Maduro's presidency).

Internal Revenue Code of 1986

The official body of tax law in the United States, which outlines all federal tax rules and regulations.