Internal Revenue Code · 26 U.S.C.
§ 241. Allowance of special deductions
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)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 241
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 36 words · about 1 min to read
- Cross-references
- cites 1; cited by 6 Code sections and 10 other regulations
- Regulations
- 1 issued under this section
In addition to the deductions provided in part VI (sec. 161 and following), there shall be allowed as deductions in computing taxable income the items specified in this part.
(Aug. 16, 1954, ch. 736, 68A Stat. 72.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 241
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 6 Code sections
- § 535(b)(3) Accumulated taxable income
- § 545(b)(3) Undistributed personal holding company income
- § 832(c)(12) Insurance company taxable income
- § 834(c)(7) Determination of taxable investment income
- § 852(b)(2)(C) Taxation of regulated investment companies and their shareholders
- § 857(b)(2)(A) Taxation of real estate investment trusts and their beneficiaries
Cited in 10 regulations not issued under it
- § 1.535-2 Adjustments to taxable income.
- § 1.545-2 Adjustments to taxable income.
- § 1.596-1 Limitation on dividends received deduction.
- § 1.601-1 Special deduction for bank affiliates.
- § 1.822-5 Mutual insurance company taxable income.
- § 1.822-8 Determination of taxable investment income.
- § 1.831-1 Tax on insurance companies (other than life or mutual), mutual marine insurance companies, and mutual fire insurance companies issuing perpetual policies.
- § 1.831-3 Tax on insurance companies (other than life or mutual), mutual marine insurance companies, mutual fire insurance companies issuing perpetual policies, and mutual fire or flood insurance companies operating on the basis of premium deposits; taxable years beginning after December 31, 1962.
- § 1.852-3 Investment company taxable income.
- § 1.863-4 Certain transportation services.
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter B Computation of Taxable Income
- Part VIII SPECIAL DEDUCTIONS FOR CORPORATIONS
Nearby sections
- § 241 Allowance of special deductions
- § 242 Repealed
- § 243 Dividends received by corporations
- § 244 Repealed
- § 245 Dividends received from certain foreign corporations