§ 266 - Carrying charges

CHAPTER 1— NORMAL TAXES AND SURTAXES › Subchapter B— Computation of Taxable Income

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.

Notes

Editorial Notes

Amendments

1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary”.