 Timber (1) If the taxpayer so elects upon his return, the cutting of timber by the taxpayer who owns it, or by a taxpayer having the contract right to cut it from the land of another (providing he has held that contract right for a period of more than...  Current Lumber Industry Problems: Fourth Interim Report - Page 34by United States. Congress. House. Select Committee on Small Business - 1944 - 37 pagesFull view - About this book
 | United States. Congress. House. Committee on Ways and Means - 1943 - 1636 pages
...It from the land of another (providing he has held that contract right for a period of more than 6 months) shall be considered as a sale or exchange...be recognized in an amount equal to the difference between the adjusted basis for depletion in the hands of the taxpayer and such fair market value of... | |
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