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Sec. 161. Allowance Of Deductions

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; May 23, 1977, Pub. L. 95-30, title I, 102(b)(1), 91 Stat. 137.)
BACKGROUND NOTES
Amendments to Part
1986--Pub. L. 99-514, title II, 201(d)(2)(B), 241(b)(3), 242(b)(3), title IV, 402(b)(3), title VIII, 803(c)(2), Oct. 22, 1986, 100 Stat. 2139, 2181, 2221, 2356, substituted “Amortization of cost of acquiring a lease” for “Depreciation or amortization of improvements made by lessee on lessor's property” in item 178, and struck out items 177 “Trademark and trade name expenditures”, 182 “Expenditures by farmers for clearing land”, 185 “Amortization of railroad grading and tunnel bores”, and 189 “Amortization of real property construction period interest and taxes”.
1984--Pub. L. 98-369, div. A, title I, 94(b), title IV, 474(r)(8)(B), July 18, 1984, 98 Stat. 615, 841, reenacted item 195 without change, and substituted “business credits” for “investment credits” in item 196.
1983--Pub. L. 97-448, title III, 305(b)(2), Jan. 12, 1983, 96 Stat. 2399, redesignated item 194 (relating to contributions to employer liability trusts) as 194A.
1982--Pub. L. 97-248, title II, 205(a)(5)(C), Sept. 3, 1982, 96 Stat. 430, added item 196.
1981--Pub. L. 97-34, title II, 201(d), 202(d)(3), Aug. 13, 1981, 95 Stat. 219, 221, added item 168 and substituted “Election to expense certain depreciable business assets” for “Additional first-year depreciation allowance for small business” in item 179.
1980--Pub. L. 96-605, title I, 102(b), Dec. 28, 1980, 94 Stat. 3522, added item 195.
Pub. L. 96-451, title III, 301(c)(2), Oct. 14, 1980, 94 Stat. 1991, added item 194 relating to amortization of reforestation expenditures.
Pub. L. 96-364, title II, 209(c)(2), Sept. 26, 1980, 94 Stat. 1291, added item 194 relating to contributions to employer liability trusts.
Pub. L. 96-223, title II, 251(a)(2)(A), Apr. 2, 1980, 94 Stat. 287, added item 193.
1978--Pub. L. 95-227, 4(b)(2), Feb. 10, 1978, 95 Stat. 17, added item 192.
1977--Pub. L. 95-30, title IV, 402(a)(4), May 23, 1977, 91 Stat. 155, struck out “on-the-job training and” after “certain expenditures for” in item 188.
1976--Pub. L. 94-455, title II, 201(b), title XIX, 1901(b)(11)(B), 1951(c)(2)(D), title XXI, 2122(b)(1), 2124(a)(3)(A), Oct. 4, 1976, 90 Stat. 1527, 1795, 1841, 1915, 1917, struck out item 168 “Amortization of emergency facilities" and item 187 “Amortization of certain coal mine safety equipment" and added items 189, 190, and 191.
1971--Pub. L. 92-178, title III, 303(c)(6), Dec. 10, 1971, 85 Stat. 522, added item 188.
1969--Pub. L. 91-172, title II, 213(c)(1), title VII, 704(b)(1), 705(b), 707(b), title IX, 904(b), Dec. 30, 1969, 83 Stat. 572, 669, 674, 675, 712, substituted reference to pollution control facilities for reference to grain storage facilities in item 169, and added items 183 to 187.
1964--Pub. L. 88-272, title II, 203(a)(3)(D). Feb. 26, 1964, 78 Stat. 34, struck out item 181 “Deduction for certain unused investment credit”.
1962--Pub. L. 87-834, 2(g)(3), 21(c), Oct. 16, 1962, 76 Stat. 973, 1064, added items 181, 182.
1960--Pub. L. 86-779, 6(b), Sept. 14, 1960, 74 Stat. 1001, added item 180.
1958--Pub. L. 85-866, title I, 15(b), title II, 204(b), Sept. 2, 1958, 72 Stat. 1613, 1680, added items 178 and 179.
1956--Act June 29, 1956, ch. 464, 4(b), 70 Stat. 406, added item 177.
1954--Act Sept. 1, 1954, ch. 1206, title II, 210(b), 68 Stat. 1097, added item 176.
AMENDMENTS
1977--Pub. L. 95-30 substituted “section 63” for “section 63(a)”.
EFFECTIVE DATE OF 1977 AMENDMENT
Amendment by Pub. L. 95-30 applicable to taxable years beginning after Dec. 31, 1976, see section 106(a) of Pub. L. 95-30, set out as a note under section 1 of this title.