5--KYMN 931-940
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NOTES 931 Tax Lawyer, Vol. 53, No. 4 NOTE GAINS AND LOSSES REALIZED BY NONEXEMPT AGRICULTURAL COOPERATIVE ON THE DISPOSITION OF STOCK IN THREE CORPORATIONS AND SECTION 1231 PROPERTY WERE CLASSIFIED AS PATRONAGE INCOME: FARMLAND INDUSTRIES, INC. V. COMMISSIONER In Farmland Industries, Inc. v. Commissioner,1 the Tax Court confronted the issue of classifying gains and losses realized by a nonexempt agricultural cooperattive from sales of stock and section 1231(b)3 property as either patronage or...