26 U.S.C. § 266

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 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.

26 U.S.C. § 266

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

AMENDMENTS1976- Pub. L. 94-455 struck out "or his delegate" after "Secretary".

Secretary

The term "Secretary" means the Secretary of the Treasury or his delegate.

taxpayer

The term "taxpayer" means any person subject to any internal revenue tax.