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QUESTION
Ben works full-time, and his hobby is gardener. He spent $1,400 on seeds and fertilizer to grow enough vegetables to last him the entire year.
Ben works full-time, and his hobby is gardener. He spent $1,400 on seeds and fertilizer to grow enough vegetables to last him the entire year. Should Ben be required to recognize income equal to the fair market value of the vegetables in excess of their cost.
