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

§ 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.)

Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 266

Source: decipher.legal/usc/26/266 · Internal Revenue Code, current through Pub. L. 119-100 (OLRC XML of 2026-04-17)