§180 — Expenditures by farmers for fertilizer, etc.

19 cases·3 followed·2 overruled·14 cited—16% support

Statute Text — 26 U.S.C. §180

(a)In general

A taxpayer engaged in the business of farming may elect to treat as expenses which are not chargeable to capital account expenditures (otherwise chargeable to capital account) which are paid or incurred by him during the taxable year for the purchase or acquisition of fertilizer, lime, ground limestone, marl, or other materials to enrich, neutralize, or condition land used in farming, or for the application of such materials to such land. The expenditures so treated shall be allowed as a deduction.

(b)Land used in farming

For purposes of subsection (a), the term “land used in farming” means land used (before or simultaneously with the expenditures described in subsection (a)) by the taxpayer or his tenant for the production of crops, fruits, or other agricultural products or for the sustenance of livestock.

(c)Election

The election under subsection (a) for any taxable year shall be made within the time prescribed by law (including extensions thereof) for filing the return for such taxable year. Such election shall be made in such manner as the Secretary may by regulations prescribe. Such election may not be revoked except with the consent of the Secretary.

Treasury Regulations

Treas. Reg. §Treas. Reg. §1.180-1 Expenditures by farmers for fertilizer, etc
Treas. Reg. §Treas. Reg. §1.180-1(a) In general.
Treas. Reg. §Treas. Reg. §1.180-1(b) Land used in farming.
Treas. Reg. §Treas. Reg. §1.180-2 Time and manner of making election and revocation
Treas. Reg. §Treas. Reg. §1.180-2(a) Election.
Treas. Reg. §Treas. Reg. §1.180-2(b) Revocation.

19 Citing Cases

OVERRULED Unionbancal Corporation, f.k.a. Union Bank, Successor in Interest to Standard Chartered Holdings, Inc. and Includable Subsidiaries, Petitioners 113 T.C. No. 22 · 1999

(These rules are not intended to overrule the consolidated return regulation rules where the controlled corporations file a consolidated return.) [H.

UnionBanCal Corp. v. Commissioner 113 T.C. 309 · 1999

omitted.] Section 180 of the Senate bill provided in pertinent part: (c) Deferral (Rather Than Denial) of Loss From Sale or Exchange Between Members of a Controlled Group.

Ray Feldman, Transferee, Petitioner T.C. Memo. 2011-297 · 2011

180.1408(2) (West 2002). - 8 - ..Under the transaction presented by the MidCoast representatives, the shareholders of Woodside Ranch allegedly would be relieved of a significant portion, if not all, of Woodside Ranch's combined Federal and State income tax liability of approximately $750,000 relating to the Zumwalt asset sale. On June 11, 200

Jan Reynolds, Transferee, Petitioner T.C. Memo. 2011-297 · 2011

Emma McClintock, Transferee, Petitioner T.C. Memo. 2011-297 · 2011

Sharon L. Coklan, Transferee, Petitioner T.C. Memo. 2011-297 · 2011

Rhea Dugan, Transferee, Petitioner T.C. Memo. 2011-297 · 2011

Brizell v. Commissioner 93 T.C. 151 · 1989

Robert Donahue v. CIR · Cir.

Feldman v. Commissioner 779 F.3d 448 · Cir.

Gates Rubber Co. v. Commissioner 74 T.C. 1456 · 1980

Sun Co. v. Commissioner 74 T.C. 1481 · 1980

Standard Oil Co. v. Commissioner 68 T.C. 325 · 1977

Estate of Ware v. Commissioner 55 T.C. 69 · 1970

Parsons v. Commissioner 43 T.C. 331 · 1964

Galt v. Commissioner 19 T.C. 892 · 1953

Allen v. Commissioner 5 T.C. 1232 · 1945

Ruthardt v. United States 303 F.3d 375 · Cir.

United States v. Oracio Corrales-Vazquez 931 F.3d 944 · Cir.