74 S T A T. ]
PUBLIC LAW 86-779-SEPT. 14, 1960
"(ii) a married individual not entitled under subsection (b) to file a joint declaration with his spouse; or "(iii) a married individual entitled under subsection (b) to file a joint declaration with his spouse, but only if the aggregate gross income of such individual and his spouse for the taxable year can reasonably be expected to exceed $10,000; or " (B) $10,000, in the case of— " (i) a head of a household (as defined in section 1 (b)(2)); or "(ii) a surviving spouse (as defined in section 2(b)); or "(2) the gross income can reasonably be expected to include more than $200 from sources other than wages (as defined in section 3401(a)). Notwithstanding the provisions of this subsection, no declaration is required if the estimated tax (as defined in subsection (c)) can reasonably be expected to be less than $40." (b) The amendment made by subsection (a) shall apply with respect to taxable years beginning after December SI, 1960. SEC. 6. (a) Part VI of subchapter B of chapter 1 of the Internal Revenue Code of 1954 (relating to itemized deductions for individuals and corporations) is amended by adding at the end thereof the following new section: "SEC. 180. EXPENDITURES BY FARMERS FOR FERTIUZER, ETC. " (a) IN GENERAL.—^A taxpayer engaged in the business of farming may elect to treat as expenses which are not chargeable to capital account expenditures (otherwise chargeable to capital account) which are paid or incurred by him during the taxable year for the purchase or acquisition of fertilizer, lime, ground limestone, marl, or other materials to enrich, neutralize, or condition land used in farming, or for the application of such materials to such land. The expenditures so treated shall be allowed as a deduction.
26 USC 340 1.
26 USC 161.
" (b) LAND USED I N FARMING.—For purposes of subsection (a),
the term 'land used in farming' means land used (before or simultaneously with the expenditures described in subsection (^a)) by the taxpayer or his tenant for the production of crops, fruits, or other agricultural products or for the sustenance of livestock. "(c) ELECTION.—The election under subsection (a) for any taxable year shall be made within the time prescribed by law (including extensions thereof) for filing the return for such taxable year. Such election shall be made in such manner as the Secretary or his delegate may by regulations prescribe. Such election may not be revoked except with the consent of the Secretary or his delegate." (b) The table of sections for such part VI is amended by adding at the end thereof the following: "Sec. 180. Expenditures by farmers for fertilizer, etc."
(c) Section 263(a)(1) of such Code (relating to capital expenditures) is amended— (1) by striking out "or" at the end of subparagraph (B); (2) by striking out the period at the end of subparagraph (C) and inserting in lieu thereof ", or"; and (3) by adding after subparagraph (C) the following new subparagraph: " (D) expenditures by farmers for fertilizer, etc., deductible under section 180." (d) The amendments made by subsections (a), (b), and (c) shall apply to taxable years beginning after December 31, 1959.
26 USC 263.