FEDERAL · 26 U.S.C. · Chapter Subchapter B—Computation of Taxable Income
Sale of land with unharvested crop
26 U.S.C. § 268
This text of 26 U.S.C. § 268 (Sale of land with unharvested crop) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 268.
Text
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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Related
Queen v. United States
77 F.2d 780 (D.C. Circuit, 1935)
Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 80.)
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Bluebook (online)
26 U.S.C. § 268, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/268.