26 U.S.C. § 161
Allowance of deductions
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).
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Cited by 15
- 26 CFR § 1.161-1 — Allowance of deductions.
- 26 CFR § 1.162-21 — Denial of deduction for certain fines, penalties, and other amounts.
- 26 CFR § 1.241-1 — Allowance of special deductions.
- 26 CFR § 1.4-3 — Husband and wife filing separate returns.
- 26 CFR § 1.514(a)-2 — Business lease rents and deductions for taxable years beginning before January 1, 1970.
- 26 CFR § 1.62-1 — Adjusted gross income.
- 26 CFR § 1.62-2 — Reimbursements and other expense allowance arrangements.
- 26 CFR § 1.832-2 — Deductions.
- 26 CFR § 1.832-5 — Deductions.
- 26 U.S.C. § 241 — Allowance of special deductions
- 26 U.S.C. § 51 — Amount of credit
- 26 U.S.C. § 62 — Adjusted gross income defined
Nearby sections (25 sections)
- 142 · Exempt facility bond
- 143 · Mortgage revenue bonds: qualified mortgage bond and qualified…
- 144 · Qualified small issue bond; qualified student loan bond;…
- 145 · Qualified 501(c)(3) bond
- 146 · Volume cap
- 147 · Other requirements applicable to certain private activity bonds
- 148 · Arbitrage
- 149 · Bonds must be registered to be tax exempt; other requirements
- 150 · Definitions and special rules
- 151 · Allowance of deductions for personal exemptions
- 152 · Dependent defined
- 153 · Cross references
- 161 · Allowance of deductions
- 162 · Trade or business expenses
- 163 · Interest
- 164 · Taxes
- 165 · Losses
- 166 · Bad debts
- 167 · Depreciation
- 168 · Accelerated cost recovery system
- 169 · Amortization of pollution control facilities
- 170 · Charitable, etc., contributions and gifts
- 171 · Amortizable bond premium
- 172 · Net operating loss deduction
- 173 · Circulation expenditures