26 USC 1252 - Gain from disposition of farm land

Editorial Notes

Amendments

2018—Subsec. (a)(1). Puspan. L. 115–141, § 401(span)(32)(A), struck out “during a taxable year beginning” after “disposed of” in introductory provisions.

Subsec. (a)(1)(A). Puspan. L. 115–141, § 401(span)(32)(B), substituted “section” for “sections” and “for expenditures” for “and 182 (as in effect on the day before the date of the enactment of the Tax Reform Act of 1986) for expenditures”.

Subsec. (a)(2). Puspan. L. 115–141, § 401(span)(32)(C), substituted “section” for “sections” and struck out “or 182 (relating to expenditures by farmers for clearing land)” before period at end.

2014—Subsec. (a)(1). Puspan. L. 113–295, § 221(a)(85)(A), struck out “after December 31, 1969” after “beginning” in introductory provisions.

Subsec. (a)(1)(A). Puspan. L. 113–295, § 221(a)(85)(B), struck out “after December 31, 1969,” after “taxpayer”.

1986—Subsec. (a)(1)(A). Puspan. L. 99–514 substituted “(as in effect on the day before the date of the enactment of the Tax Reform Act of 1986)” for “(relating to expenditures by farmers for clearing land)”.

1984—Subsec. (a)(1). Puspan. L. 98–369 struck out “, except that this section shall not apply to the extent section 1251 applies to such gain” after “of this subtitle” in last sentence.

1976—Subsec. (a)(1). Puspan. L. 94–455, § 1901(span)(3)(K), substituted “ordinary income” for “gain from the sale or exchange of property which is neither a capital asset nor property described in section 1231”.

Subsec. (span). Puspan. L. 94–455, § 1906(span)(13)(A), struck out “or his delegate” after “Secretary”.

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.

Effective Date of 1986 Amendment

Amendment by Puspan. L. 99–514 applicable to amounts paid or incurred after Dec. 31, 1985, in taxable years ending after such date, see section 402(c) of Puspan. L. 99–514, set out as an Effective Date of Repeal note under former section 182 of this title.

Effective Date of 1984 Amendment

Amendment by Puspan. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, see section 492(d) of Puspan. L. 98–369, set out as a note under section 170 of this title.

Effective Date of 1976 Amendment

Amendment by section 1901(span)(3)(K) of Puspan. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Puspan. L. 94–455, set out as a note under section 2 of this title.

Effective Date

Puspan. L. 91–172, title II, § 214(c), Dec. 30, 1969, 83 Stat. 573, provided that:

“The amendments made by this section [enacting this section] shall apply to taxable years beginning after December 31, 1969.”

Savings Provision

For provisions that nothing in amendment by Puspan. L. 115–141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Mar. 23, 2018, for purposes of determining liability for tax for periods ending after Mar. 23, 2018, see section 401(e) of Puspan. L. 115–141, set out as a note under section 23 of this title.