Current through Pub. L. 119-100Open in workspace

§ 161 Allowance of deductions

In computing taxable income under section , there shall be allowed as deductions the items specified in this part, subject to the exceptions provided in part IX (sec. 261 and following, relating to items not deductible).

(Aug. 16, 1954, ch. 736, 68A Stat. 45; Pub. L. 95–30, title I, § 102(b)(1), May 23, 1977, 91 Stat. 137.)

Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 161

Source: decipher.legal/usc/26/161 · Internal Revenue Code, current through Pub. L. 119-100 (OLRC XML of 2026-04-17)