Title 26 — Internal Revenue CodeRelease 119-73
§266 Carrying charges
Title 26 › Subtitle Subtitle A— - Income Taxes › Chapter CHAPTER 1— - NORMAL TAXES AND SURTAXES › Subchapter Subchapter B— - Computation of Taxable Income › Part PART IX— - ITEMS NOT DEDUCTIBLE › § 266
Summary
You cannot deduct taxes or carrying charges you pay or owe if you choose, under Treasury rules, to add them to the property's cost.
Full Legal Text
Title 26, §266
Internal Revenue Code — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Reference
Citations & Metadata
Citation
26 U.S.C. § 266
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73