
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC266]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
               Subchapter B--Computation of Taxable Income
 
                      PART IX--ITEMS NOT DEDUCTIBLE
 
Sec. 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, 
Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)


                               Amendments

    1976--Pub. L. 94-455 struck out ``or his delegate'' after 
``Secretary''.

                  Section Referred to in Other Sections

    This section is referred to in sections 163, 1016 of this title.
