site which was purchased by the taxpayer and replaced with the newly constructed single-family home. (6) Exceptions A person described in this paragraph is— (A) any organization which is exempt from taxation under section 501(a), the primary purpose of which is related to affordable housing, housing counseling, or neighborhood stabilization, (B) any State or political subdivision thereof, (C) any public housing authority or its instrumentalities, (D) any land bank, or (E) any community land trust. (d) Terms relating to home purchase, etc For purposes of this section— (1) Covered home purchase (A) In general The term covered home purchase means the purchase of a single-family home by a covered investor. (B) New construction The construction of a new single-family home by the taxpayer shall not be treated as a purchase, unless such new single-family home is taken into account for purposes of subsection (c) by reason of paragraph (5) thereof. (2) Purchase price The term purchase price means the total amount paid, including the amount of any indebtedness incurred or assumed, by the taxpayer to acquire a single-family home from the seller. (3) Single-family home The term single-family home has the meaning given such term by section 81.2 of title 24, Code of Federal Regulations. (4) Own The term own means directly or indirectly possessing a majority interest in a single-family home. (e) Aggregation rules (1) In general Except as otherwise provided in paragraph (2), all persons treated as a single employer under subsection (a) or (b) of section 52, or subsection (m) or (o) of section 414, shall be treated as 1 person for purposes of this section. (2) Modifications For purposes of this subsection— (A) section 52(a) shall be applied by substituting component members for members , and (B) for purposes of applying section 52(b), the term trade or business shall include any activity treated as a trade or business under paragraph (5) or (6) of section 469(c) (determined without regard to the phrase To the extent provided in