§ 1.261-1. General rule for disallowance of deductions.
46 words·~1 min read·
/us/cfr/t26/s§ 1.261-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In computing taxable income, no deduction shall be allowed, except as otherwise expressly provided in Chapter 1 of the Code, in respect of any of the items specified in Part IX (section 262 and following), Subchapter B, Chapter 1 of the Code, and the regulations thereunder.