Title 26, Internal Revenue CodeRelease 119-102
§161 Allowance of Deductions
Title 26 › Subtitle A — Income Taxes › CHAPTER 1 — NORMAL TAXES AND SURTAXES › Subchapter B — Computation of Taxable Income › PART VI — ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS › § 161
Summary
Allow deductions listed here when figuring taxable income, except items excluded in part IX.
Full Legal Text
Title 26, §161
Internal Revenue Code, Source: USLM XML via OLRC
In computing taxable income under section 63, there shall be allowed as deductions the items specified in this part, subject to the exceptions provided in part IX (sec. 261 and following, relating to items not deductible).
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1977—Pub. L. 95–30 substituted “section 63” for “section 63(a)”.
Statutory Notes and Related Subsidiaries
Effective Date
of 1977 AmendmentAmendment by Pub. L. 95–30 applicable to taxable years beginning after Dec. 31, 1976, see section 106(a) of Pub. L. 95–30, set out as a note under section 1 of this title.
Reference
Citations & Metadata
Citation
26 U.S.C. § 161
Title 26, Internal Revenue Code
Last Updated
Aug 21, 2026
Release point: 119-102