2018 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter B - Computation of Taxable Income
Part IX - Items Not Deductible
Sec. 268 - Sale of land with unharvested crop

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Citation 26 U.S.C. § 268 (2018)
Section Name ยง268. Sale of land with unharvested crop
Section 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.

Source Credit

(Aug. 16, 1954, ch. 736, 68A Stat. 80.)

Publication Title United States Code, 2018 Edition, Title 26 - INTERNAL REVENUE CODE
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter B - Computation of Taxable Income
PART IX - ITEMS NOT DEDUCTIBLE
Sec. 268 - Sale of land with unharvested crop
Contains section 268
Date 2018
Laws In Effect As Of Date January 14, 2019
Positive Law No
Disposition standard
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