### Question
What does prepaid farm supplies mean?


### Answer
**Prepaid farm supplies** has the following meaning in *26 U.S.C. § 464*:

> any amounts which are described in subsection (a) or (b) and would be allowable for a subsequent taxable year under the rules of subsections (a) and (b)

#### Citation:
  - *26 U.S.C. § 464*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

