---
kind: "section"
citation: "26 U.S.C. § 266"
title: "26"
title_heading: "Internal Revenue Code"
number: "266"
heading: "Carrying charges"
release: "119-102"
url: "https://uscodex.org/usc/26/266"
units:
  - "Subtitle A — Income Taxes"
  - "Chapter 1 — Normal Taxes and Surtaxes"
  - "Subchapter B — Computation of Taxable Income"
  - "Part IX — Items Not Deductible"
---

# §266. Carrying charges


No deduction shall be allowed for amounts [paid or accrued](/usc/26/7701.md?p=a-25) for such taxes and carrying charges as, under regulations prescribed by the [Secretary](/usc/26/7701.md?p=a-11-B), are chargeable to capital account with respect to [property](/usc/26/614.md?p=a), if the [taxpayer](/usc/26/1313.md?p=b) elects, in accordance with such regulations, to treat such taxes or charges as so chargeable.


## Source credit

(Aug. 16, 1954, ch. 736, 68A Stat. 78; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)

## Notes

### Editorial Notes

### Amendments

1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary”.