
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC268]

 
                     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

    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.)

                  Section Referred to in Other Sections

    This section is referred to in section 1016 of this title.
