26 USC 266: Carrying charges
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26 USC 266: Carrying charges Text contains those laws in effect on November 23, 2024
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter B-Computation of Taxable IncomePART IX-ITEMS NOT DEDUCTIBLE
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§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.

(Aug. 16, 1954, ch. 736, 68A Stat. 78 ; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834 .)


Editorial Notes

Amendments

1976-Pub. L. 94–455 struck out "or his delegate" after "Secretary".