Applicable percentage For purposes of this paragraph, in the case of property which ceases to be qualified farming property during the 8-year period, the applicable percentage shall be determined under the following table: For property which so  ceases during: The applicable percentage is: The first or second year 100 percent The third or fourth year 75 percent The fifth or sixth year 50 percent The seventh or eighth year 25 percent. (C) Property beyond actual useful life For purposes of this paragraph, property which, during such 8-year period, is no longer capable of being used in the trade or business of farming shall be treated as ceasing to be qualified farming property. (3) Related party rules (A) In general A sale or purchase shall only be taken into account under this section if the property is not acquired from a person related to the person acquiring such property (or, if married, such individual’s spouse). (B) Related persons A person shall be treated as related to another person if the relationship between such persons would result in the disallowance of losses under section 267 or 707(b). (4) Application with other credits (A) Business credit treated as part of general business credit So much of the credit which would be allowed under this section for any taxable year (determined without regard to this paragraph) that is attributable to property that is land used in a trade or business of the taxpayer, or that in the hands of the taxpayer is of a character subject to an allowance for depreciation, shall be treated as a credit listed in section 38(b) for such taxable year (and not allowed under this section). (B) Personal credit The credit allowed under subsection (a) (after the application of paragraph (1)) for any taxable year shall be treated as a credit allowable under subpart A for such taxable year. (5) Reduction in basis For purposes of this subtitle, the basis of any property for which a credit is allowable under this section shall be reduced by the amount of such credit so allowed. . (b)