Sec. 8054. Gain from disposition of farmland
104 words·~1 min read·
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Paragraph
(1)of section 1252(a), as amended by the preceding provisions of this Act, is amended— by striking beginning after December 31, 1969 in the matter preceding subparagraph (A), and by amending subparagraph
(A)to read as follows: the applicable percentage of the aggregate deductions allowed under section 175 (as in effect before its repeal by the Tax Reform Act of 2014 ) with respect to the farmland, or . Paragraph
(2)of section 1252(a) is amended by striking sections 175 and all that follows and inserting section 175 (as in effect before its repeal by the . Tax Reform Act of 2014 ).