should not compute the cost of goods sold during the year by using an inventory value of growing plants on hand at the beginning and end of the taxable year. (C. B. 5, 63; O. D. 995.) It should be noted that farmers are entitled to the benefit of section 206 of the law. (See Chapter 34.) Use of form 1040 F optional. RULING. The use of Form 1040 F is optional since it is designed merely to assist farmers in computing their net income. Therefore, it is unnecessary to file same where the taxpayer has made return and paid the taxes due. (C. B. 1, 71; O. D. 266.) The foregoing does not agree with the regulations: REGULATION. Form 1040 F should be filled in and attached to his income tax return by every farmer who either keeps no records or only records of cash receipts and disbursements; its use is optional with other farmers. (Art. 38.) GENERAL INDEX INDEXES INDEX TO SECTIONS OF LAW INDEX TO ARTICLES OF REGULATIONS INDEX TO ARTICLES OF REGULATIONS OMITTED FROM VOLUMES I INDEX TO TREASURY DEPARTMENT RULINGS INDEX TO DECISIONS OF U. S. BOARD OF TAX APPEALS TABLE OF CASES GENERAL INDEX Α Abandoned Project, Expenses deductible, 798 Abatement Claims (See "Claims for Absence, Filing of return in case of, 61 Accidents, Accrued losses arising out of Additional taxes of prior years, 829 Bank's commissions on interest-bearing Books open till accounts liquidated held Change from cash basis to, 249, 1317 Computation of net income, 242 Crop losses, 1316 pay- Cruises and tours, expenses and Deferred charges and credits not ac crued books held to be on, 246 Election determines basis for subse- Error in computation, 247 Farmers may make returns on, 1312 |