CHAPTER 1— NORMAL TAXES AND SURTAXES›Subchapter B— Computation of Taxable Income›PART VI— ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS

§ 161. Allowance of deductions

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code) · 2026 edition · updated 2026-10-03 · United States

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).

(Aug. 16, 1954, ch. 736, 68A Stat. 45; Pub. L. 95–30, title I, § 102(b)(1), May 23, 1977, 91 Stat. 137.)

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▸Contents — 26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

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