26 U.S.C. § 211 — Allowance of deductions

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 36 words · no verdicts yet

in plain englishAI-generated · not legal advice

This tax law allows certain deductions. When figuring taxable income under section 63, taxpayers can deduct the items listed in this part of the tax code. Exceptions in a later part of the code still apply and can block specific deductions.

This section allows taxpayers to subtract certain deductions when calculating their taxable income under section 63. The allowed deductions are the items specifically listed in this part of the tax code. This allowance is subject to the exceptions in Part IX, starting at section 261, which lists items that are not deductible.

the actual law source: uscode.house.gov ↗public domain

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 (section 261 and following, relating to items not deductible).

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 69; Pub. L. 95–30, title I, § 102(b)(3), May 23, 1977, 91 Stat. 137.)

history & why it existsrecord from the source credit

1954Enacted · Act of Aug. 16, 1954, ch. 736
1977Amended · Pub. L. 95-30 · 91 Stat. 137

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

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