Internal Revenue Code · 26 U.S.C.
§ 266. Carrying charges
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. § 266
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- October 4, 1976 by Pub. L. 94–455
- Length
- 71 words · about 1 min to read
- Cross-references
- cites 0; cited by 2 Code sections and 9 other regulations
- Regulations
- 1 issued under this section
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.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 266
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
Cited by 2 Code sections
Cited in 9 regulations not issued under it
- § 1.103-8 Interest on bonds to finance certain exempt facilities.
- § 1.163-10T Qualified residence interest (temporary).
- § 1.263(a)-6 Election to deduct or capitalize certain expenditures.
- § 1.263A-9 The avoided cost method.
- § 1.263A-15 Effective dates, transitional rules, and anti-abuse rule.
- § 1.272-1 Expenditures relating to disposal of coal or domestic iron ore.
- § 1.612-3 Depletion; treatment of bonus and advanced royalty.
- § 1.1001-1 Computation of gain or loss.
- § 1.1016-2 Items properly chargeable to capital account.
Amendment history
From the source credit and the official notes, newest first.
- Enacted by Pub. L. 94–455
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter B Computation of Taxable Income
- Part IX ITEMS NOT DEDUCTIBLE
Nearby sections
- § 263 Capital expenditures
- § 263A Capitalization and inclusion in inventory costs of certain expenses
- § 264 Certain amounts paid in connection with insurance contracts
- § 265 Expenses and interest relating to tax-exempt income
- § 266 Carrying charges
- § 267 Losses, expenses, and interest with respect to transactions between related taxpayers
- § 267A Certain related party amounts paid or accrued in hybrid transactions or with hybrid entities
- § 268 Sale of land with unharvested crop
- § 269 Acquisitions made to evade or avoid income tax
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary”.