§268 — Sale of land with unharvested crop

15 cases·3 followed·2 distinguished·10 cited—20% support

Statute Text — 26 U.S.C. §268

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.

Treasury Regulations

Treas. Reg. §Treas. Reg. §1.268-1 Items attributable to an unharvested crop sold with the land

15 Citing Cases

Coors Porcelain Co. v. Commissioner 52 T.C. 682 · 1969

Beauchamp & Brown Groves Co. v. Commissioner 44 T.C. 117 · 1965

Rojas v. Commissioner 90 T.C. 1090 · 1988

South Lake Farms, Inc. v. Commissioner 36 T.C. 1027 · 1961

Dennis L. Hayden and Sharon E. Hayden v. Commisioner of Internal Revenue 204 F.3d 772 · Cir.

James D. Sullivan & Colleen M. Sullivan, Petitioners T.C. Memo. 2026-13 · 2026

Fort Howard Paper Co. v. Commissioner 49 T.C. 275 · 1967

Russell v. Commissioner 40 T.C. 810 · 1963

Mills v. Commissioner 39 T.C. 393 · 1962

Warren Balderston Co. v. Commissioner 4 T.C. 764 · 1945

Motor Mart Trust v. Commissioner 4 T.C. 931 · 1945

Alcazar Hotel, Inc. v. Commissioner 1 T.C. 872 · 1943

Claridge Apartments Co. v. Commissioner 1 T.C. 163 · 1942

New Jersey v. Bessent; Village of Scarsdale v. IRS · Cir.