Us Code § 268 - Sale of land with unharvested crop
Full text of Us Code United States Code § 268 — Sale of land with unharvested crop, with citation guidance and answers to common questions.
§ 268. Sale of land with unharvested crop
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.
(Aug. 16, 1954, ch. 736, 68A Stat. 80.)
About This Section
26 U.S.C. § 268 is part of Title 26 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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