District Court, E.D. Washington May 23, 1983, C-81-343-RMB (Fanning v. United States)

ORDER

BILBY, District Judge.

Plaintiffs, individual taxpayers, owned and operated a farm producing wheat, bar

*824

ley and lentils. On March 31, 1974, all of the farm assets, except the land and a portion of the farm equipment owned by plaintiffs, were transferred into a farm corporation under 26 U.S.C. § 351 with plaintiffs as sole shareholders.