26 U.S.C. § 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.
Notes of Decisions
Cited in 1
case, 1935–1935 · leading case: Queen v. United States
Queen v. United States (1935)
“Although not touched upon in the briefs of counsel, it is well to point out that section 202 of the act (26 USCA § 268) also constitutes an exception to the general inhibitions of section 201.”
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