C.C.M. 20102602F (Dec. 28, 2009)

(taxpayer, a licensed public warehouse, must capitalize and allocate to ending physical grain inventory in accordance with I.R.C. Sec. 263A the direct costs of acquiring grain for resale and the properly allocable share of indirect costs that directly benefit or are incurred in the resale of the grain).   

CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.

RSS​ Facebook Twitter