26 U.S.C. § 268 (2024)

This is the official text of 26 U.S.C. § 268 (2024), part of Federal (US Code)’s United States Code — the codified general and permanent federal statutes of the United States, organized into more than 50 numbered titles by subject.

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Sale of land with unharvested crop

Official statutory 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.

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

Status: in_force · Read it on the official government site

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