farming loss
Defined in 1 place of the United States Code.
For purposes of this section, the term "farming loss" means the lesser of—
(I) the amount which would be the net operating loss for the taxable year if only income and deductions attributable to farming businesses (as defined in section 263A(e)(4)) are taken into account, or
(II) the amount of the net operating loss for such taxable year.
Source
- 2017–present26 U.S.C. § 172Internal Revenue Code · Net operating loss deduction · for purposes of this section
The term “farming loss” means the lesser of—
(A) the amount which would be the net operating loss for the taxable year if only income and deductions attributable to farming businesses (as defined in section 263A(e)(4)) are taken into account, or
(B) the amount of the net operating loss for such taxable year.
Source
- 1998–201726 U.S.C. § 172Internal Revenue Code · Net operating loss deduction · for purposes of this section
The term "farming loss" means the lesser of—
(A) the amount which would be the net operating loss for the taxable year if only income and deductions attributable to farming businesses (as defined in section 263A(e)(4)) are taken into account, or
(B) the amount of the net operating loss for such taxable year.
Such term shall not include any qualified disaster loss (as defined in subsection (j)).
Source
- 2008–201426 U.S.C. § 172Internal Revenue Code · Net operating loss deduction · for purposes of this section