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McCOY v. COMMISSIONER OF INTERNAL REVENUE

No. 4271.

192 F.2d 486 (1951)

McCOY v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Tenth Circuit.

November 12, 1951.

Attorney(s) appearing for the Case

Robert Ash, Washington, D. C. (Charles H. Burton, Washington, D. C., and Carroll Walker, Frankfort, Kan., on the brief), for petitioner.

Louise Foster, Sp. Asst. to Atty. Gen. (Theron Lamar Caudle, Asst. Atty. Gen., Ellis N. Slack and A. F. Prescott, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Before PHILLIPS, Chief judge, and BRATTON and HUXMAN, Circuit Judges.

HUXMAN, Circuit Judge.

The question presented by this appeal is whether the entire gain realized on a sale of a farm owned by a taxpayer for more than six months and used in his business as a farmer and having on it at the time of sale a growing wheat crop is to be treated as capital gain, under § 117(j) of the Internal Revenue Code, 26 U.S.C.A. § 117(j), or whether a portion thereof must be allocated to the growing crop and be treated as ordinary income...

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