FEDERAL · 26 U.S.C. · Chapter 1
Sale of land with unharvested crop
Current through Pub. L. 119-102
Where an unharvested crop sold by the taxpayer is considered under the provisions of section 1231 as "property used in the trade or business", in computing taxable income no deduction (whether or not for the taxable year of the sale and whether for expenses, depreciation, or otherwise) attributable to the production of such crop shall be allowed.
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26 U.S.C. § 268 (Sale of land with unharvested crop) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Queen v. United States
77 F.2d 780 (D.C. Circuit, 1935)
Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 80.)