[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.261-1]

[Page 419]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.261-1  General rule for disallowance of deductions.

    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.