McCulley v. Kelm

NORDBYE, Chief Judge.

Plaintiff taxpayer reported on the cash basis and filed Form 1040-F, “Schedule of Farm Income and Expenses”, with his tax return for 1944 on March 15, 1945. Under the heading “Farm Income for the Taxable Period”, the taxpayer entered the following items:

“Sale of Produce Raised Popcorn ................................... $ 180.50

“Other Farm Income

Pasture rental returns............$ 50.00

Feed sales commission............ 160.20 210.20

“Sale of Livestock and

Other Items Purchased Gross sales price of 10,000 turkeys ...........................$60,521.46

Less: Cost or other basis

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