Skip to content

General education, not advice for your situation.

Carry Forward Learning Start here Intern0 XP

Internal Revenue Code · 26 U.S.C.

Subchapter B. Computation of Taxable Income

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). The official version is at uscode.house.gov (external site).

  1. Part I DEFINITION OF GROSS INCOME, ADJUSTED GROSS INCOME, TAXABLE INCOME, ETC. §§ 61–68

    1. § 61 Gross income defined
    2. § 62 Adjusted gross income defined
    3. § 63 Taxable income defined
    4. § 64 Ordinary income defined
    5. § 65 Ordinary loss defined
    6. § 66 Treatment of community income
    7. § 67 2-percent floor on miscellaneous itemized deductions
    8. § 68 Overall limitation on itemized deductions

  2. Part II ITEMS SPECIFICALLY INCLUDED IN GROSS INCOME §§ 71–91

    1. § 71 Repealed
    2. § 72 Annuities; certain proceeds of endowment and life insurance contracts
    3. § 73 Services of child
    4. § 74 Prizes and awards
    5. § 75 Dealers in tax-exempt securities
    6. § 76 Repealed
    7. § 77 Commodity credit loans
    8. § 78 Gross up for deemed paid foreign tax credit
    9. § 79 Group-term life insurance purchased for employees
    10. § 80 Restoration of value of certain securities
    11. § 81 Repealed
    12. § 82 Reimbursement of moving expenses
    13. § 83 Property transferred in connection with performance of services
    14. § 84 Transfer of appreciated property to political organizations
    15. § 85 Unemployment compensation
    16. § 86 Social security and tier 1 railroad retirement benefits
    17. § 87 Alcohol and biodiesel fuels credits
    18. § 88 Certain amounts with respect to nuclear decommissioning costs
    19. § 89 Repealed
    20. § 90 Illegal Federal irrigation subsidies
    21. § 91 Certain foreign branch losses transferred to specified 10-percent owned foreign corporations

  3. Part III ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME §§ 101–140

    1. § 101 Certain death benefits
    2. § 102 Gifts and inheritances
    3. § 103 Interest on State and local bonds
    4. § 103A Repealed
    5. § 104 Compensation for injuries or sickness
    6. § 105 Amounts received under accident and health plans
    7. § 106 Contributions by employer to accident and health plans
    8. § 107 Rental value of parsonages
    9. § 108 Income from discharge of indebtedness
    10. § 109 Improvements by lessee on lessor’s property
    11. § 110 Qualified lessee construction allowances for short-term leases
    12. § 111 Recovery of tax benefit items
    13. § 112 Certain combat zone compensation of members of the Armed Forces
    14. § 113 Repealed
    15. § 114 Repealed
    16. § 115 Income of States, municipalities, etc.
    17. § 116 Repealed
    18. § 117 Qualified scholarships
    19. § 118 Contributions to the capital of a corporation
    20. § 119 Meals or lodging furnished for the convenience of the employer
    21. § 120 Repealed
    22. § 121 Exclusion of gain from sale of principal residence
    23. § 122 Certain reduced uniformed services retirement pay
    24. § 123 Amounts received under insurance contracts for certain living expenses
    25. § 124 Repealed
    26. § 125 Cafeteria plans
    27. § 126 Certain cost-sharing payments
    28. § 127 Educational assistance programs
    29. § 128 Employer contributions to Trump accounts
    30. § 129 Dependent care assistance programs
    31. § 130 Certain personal injury liability assignments
    32. § 131 Certain foster care payments
    33. § 132 Certain fringe benefits
    34. § 133 Repealed
    35. § 134 Certain military benefits
    36. § 135 Income from United States savings bonds used to pay higher education tuition and fees
    37. § 136 Energy conservation subsidies provided by public utilities
    38. § 137 Adoption assistance programs
    39. § 138 Medicare Advantage MSA
    40. § 139 Disaster relief payments
    41. § 139A Federal subsidies for prescription drug plans
    42. § 139B Benefits provided to volunteer firefighters and emergency medical responders
    43. § 139C Certain disability-related first responder retirement payments
    44. § 139D Indian health care benefits
    45. § 139E Indian general welfare benefits
    46. § 139F Certain amounts received by wrongfully incarcerated individuals
    47. § 139G Assignments to Alaska Native Settlement Trusts
    48. § 139H Interest received in action to recover property seized by the Internal Revenue Service based on structuring transaction
    49. § 139I Continuation coverage premium assistance
    50. § 139J Certain contributions to Trump accounts
    51. § 139K Scholarships for qualified elementary or secondary education expenses of eligible students
    52. § 139L Interest on loans secured by rural or agricultural real property
    53. § 139M Compensation for losses or damages resulting from certain wildfires
    54. § 140 Cross references to other Acts

  4. Part IV TAX EXEMPTION REQUIREMENTS FOR STATE AND LOCAL BONDS §§ 141–150

    1. Subpart A Private Activity Bonds §§ 141–147

      1. § 141 Private activity bond; qualified bond
      2. § 142 Exempt facility bond
      3. § 143 Mortgage revenue bonds: qualified mortgage bond and qualified veterans’ mortgage bond
      4. § 144 Qualified small issue bond; qualified student loan bond; qualified redevelopment bond
      5. § 145 Qualified 501(c)(3) bond
      6. § 146 Volume cap
      7. § 147 Other requirements applicable to certain private activity bonds

    2. Subpart B Requirements Applicable to All State and Local Bonds §§ 148–149

      1. § 148 Arbitrage
      2. § 149 Bonds must be registered to be tax exempt; other requirements

    3. Subpart C Definitions and Special Rules § 150

      1. § 150 Definitions and special rules

  5. Part V DEDUCTIONS FOR PERSONAL EXEMPTIONS §§ 151–153

    1. § 151 Allowance of deductions for personal exemptions
    2. § 152 Dependent defined
    3. § 153 Cross references

  6. Part VI ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS §§ 161–199A

    1. § 161 Allowance of deductions
    2. § 162 Trade or business expenses
    3. § 163 Interest
    4. § 164 Taxes
    5. § 165 Losses
    6. § 166 Bad debts
    7. § 167 Depreciation
    8. § 168 Accelerated cost recovery system
    9. § 169 Amortization of pollution control facilities
    10. § 170 Charitable, etc., contributions and gifts
    11. § 171 Amortizable bond premium
    12. § 172 Net operating loss deduction
    13. § 173 Circulation expenditures
    14. § 174 Amortization of research and experimental expenditures
    15. § 174A Domestic research or experimental expenditures
    16. § 175 Soil and water conservation expenditures; endangered species recovery expenditures
    17. § 176 Payments with respect to employees of certain foreign corporations
    18. § 177 Repealed
    19. § 178 Amortization of cost of acquiring a lease
    20. § 179 Election to expense certain depreciable business assets
    21. § 179A Repealed
    22. § 179B Deduction for capital costs incurred in complying with Environmental Protection Agency sulfur regulations
    23. § 179C Election to expense certain refineries
    24. § 179D Energy efficient commercial buildings deduction
    25. § 179E Election to expense advanced mine safety equipment
    26. § 180 Expenditures by farmers for fertilizer, etc.
    27. § 181 Treatment of certain qualified productions
    28. § 182 Repealed
    29. § 183 Activities not engaged in for profit
    30. § 184 Repealed
    31. § 185 Repealed
    32. § 186 Recoveries of damages for antitrust violations, etc.
    33. § 187 Repealed
    34. § 188 Repealed
    35. § 189 Repealed
    36. § 190 Expenditures to remove architectural and transportation barriers to the handicapped and elderly
    37. § 191 Repealed
    38. § 192 Contributions to black lung benefit trust
    39. § 193 Tertiary injectants
    40. § 194 Treatment of reforestation expenditures
    41. § 194A Contributions to employer liability trusts
    42. § 195 Start-up expenditures
    43. § 196 Deduction for certain unused business credits
    44. § 197 Amortization of goodwill and certain other intangibles
    45. § 198 Expensing of environmental remediation costs
    46. § 198A Repealed
    47. § 199 Repealed
    48. § 199A Qualified business income

  7. Part VII ADDITIONAL ITEMIZED DEDUCTIONS FOR INDIVIDUALS §§ 211–226

    1. § 211 Allowance of deductions
    2. § 212 Expenses for production of income
    3. § 213 Medical, dental, etc., expenses
    4. § 214 Repealed
    5. § 215 Repealed
    6. § 216 Deduction of taxes, interest, and business depreciation by cooperative housing corporation tenant-stockholder
    7. § 217 Moving expenses
    8. § 218 Repealed
    9. § 219 Retirement savings
    10. § 220 Archer MSAs
    11. § 221 Interest on education loans
    12. § 222 Repealed
    13. § 223 Health savings accounts
    14. § 224 Qualified tips
    15. § 225 Qualified overtime compensation
    16. § 226 Cross reference

  8. Part VIII SPECIAL DEDUCTIONS FOR CORPORATIONS §§ 241–250

    1. § 241 Allowance of special deductions
    2. § 242 Repealed
    3. § 243 Dividends received by corporations
    4. § 244 Repealed
    5. § 245 Dividends received from certain foreign corporations
    6. § 245A Deduction for foreign source-portion of dividends received by domestic corporations from specified 10-percent owned foreign corporations
    7. § 246 Rules applying to deductions for dividends received
    8. § 246A Dividends received deduction reduced where portfolio stock is debt financed
    9. § 247 Contributions to Alaska Native Settlement Trusts
    10. § 248 Organizational expenditures
    11. § 249 Limitation on deduction of bond premium on repurchase
    12. § 250 Foreign-derived deduction eligible income and net CFC tested income

  9. Part IX ITEMS NOT DEDUCTIBLE §§ 261–280H

    1. § 261 General rule for disallowance of deductions
    2. § 262 Personal, living, and family expenses
    3. § 263 Capital expenditures
    4. § 263A Capitalization and inclusion in inventory costs of certain expenses
    5. § 264 Certain amounts paid in connection with insurance contracts
    6. § 265 Expenses and interest relating to tax-exempt income
    7. § 266 Carrying charges
    8. § 267 Losses, expenses, and interest with respect to transactions between related taxpayers
    9. § 267A Certain related party amounts paid or accrued in hybrid transactions or with hybrid entities
    10. § 268 Sale of land with unharvested crop
    11. § 269 Acquisitions made to evade or avoid income tax
    12. § 269A Personal service corporations formed or availed of to avoid or evade income tax
    13. § 269B Stapled entities
    14. § 270 Repealed
    15. § 271 Debts owed by political parties, etc.
    16. § 272 Disposal of coal or domestic iron ore
    17. § 273 Holders of life or terminable interest
    18. § 274 Disallowance of certain entertainment, etc., expenses
    19. § 275 Certain taxes
    20. § 276 Certain indirect contributions to political parties
    21. § 277 Deductions incurred by certain membership organizations in transactions with members
    22. § 278 Repealed
    23. § 279 Interest on indebtedness incurred by corporation to acquire stock or assets of another corporation
    24. § 280 Repealed
    25. § 280A Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc.
    26. § 280B Demolition of structures
    27. § 280C Certain expenses for which credits are allowable
    28. § 280D Repealed
    29. § 280E Expenditures in connection with the illegal sale of drugs
    30. § 280F Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes
    31. § 280G Golden parachute payments
    32. § 280H Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years

  10. Part X TERMINAL RAILROAD CORPORATIONS AND THEIR SHAREHOLDERS § 281

    1. § 281 Terminal railroad corporations and their shareholders

  11. Part XI SPECIAL RULES RELATING TO CORPORATE PREFERENCE ITEMS § 291

    1. § 291 Special rules relating to corporate preference items