Internal Revenue Code:Sec. 266. Carrying charges
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Contents |
Location in Internal Revenue Code
TITLE 26 - INTERNAL REVENUE CODE
Subtitle A - Income Taxes
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter B - Computation of Taxable Income
PART IX - ITEMS NOT DEDUCTIBLE
Statute
Sec. 266. Carrying charges
No deduction shall be allowed for amounts paid or accrued for
such taxes and carrying charges as, under regulations prescribed by
the Secretary, are chargeable to capital account with respect to
property, if the taxpayer elects, in accordance with such
regulations, to treat such taxes or charges as so chargeable.
Sources
(Aug. 16, 1954, ch. 736, 68A Stat. 78; Pub. L. 94-455, title XIX,
Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
Miscellaneous
AMENDMENTS
1976 - Pub. L. 94-455 struck out ''or his delegate'' after
''Secretary''.
References
SECTION REFERRED TO IN OTHER SECTIONS
This section is referred to in sections 163, 1016 of this title.
