O — "Operating Expenses" to "Owner Defined"
Operating Expenses
Operating Losses
Options
Grantors right of first refusal, effect of
To capitalize
To cut
Ordinary Income
From sales of
Qualification for self-employment tax
Outright Sale - Capital Gain v. Ordinary Income
Generally
- IRC Section 1221
- IRC Section 1231(b)(1)(B)
- Regs. 1.1231-1(c)(1)
- Rev. Rul. 57-9
- Rev. Rul. 66-7
- Rev. Rul. 73-222
- Alabama Mineral Land Co. (1956)
- Belcher (1960)
- Belcher (1965)
- Broadhead (1966)
- Broadhead (1972)
- Camp Mfg. Co.
- Consolidated Naval Stores Co.
- Converse
- Crosby
- Gammill
- Huxford
- Jordan
- Kirby Lumber Corp. (1950)
- Kirby Lumber Corp. (1969)
- Malat
- McMullan (1982)
- Norton
- Ouderkirk
- Peebles
- Reese
- Rutland
- Scott
- Snider
- Superior Pine Products
- Tesche
- Three States Lumber Co.
- Willey
- Ag. Handbook (pg. 51)
Culled trees
Cut-over timberland
Cutting Contracts
Disposals with a retained economic interest
Economic interest, retention of precluding outright sale
Equipment
Factors to be considered
Holding Period
Liquidation of timber holdings
Netting of gains and losses
Nursery Stock
"Primarily for sale" discussed
Property purchased for resale
Property used in trade or business
Sale to related business entity
Stumps
Timber
Timber Contracts
Timberland
Owner Defined
Generally
- IRC Section 631(b)
- Regs. 1.631-2(e)(2)
- Rev. Rul. 58-579
- Rev. Rul. 77-247
- Allen Logging
- Barclay
- Cabax Mills
- Carlen
- Clemens
- Gilmore
- Giustina (1962)
- Hitchcock
- Jantzer
- Lowes Lumber Co.
- Murphy
- Pankratz
- Union Bag-Camp Paper Corp. (1963)
- Varn
- Weyerhaeuser Co.
- Willamette Valley Lumber Co.
- Wilson
- Wirkkala
- see also "Contract Right to Cut" this index
Annual growth, ownership of
Conditional vendee as owner
Date of acquiring ownership/contract right to cut
Effect of agreement to resell timber to the grantor of timberlands
Effect of prior disposal
Effect of pre-arranged transfer
Factual question
Local law
Proprietary interest requirement
not necessary for "ownership" under Section 631(a)
not necessary for "ownership" under Section 631(b)
1939 and 1986 Code provisions compared