Go to Previous Versions of this Section
  1. 2025 Kentucky Rev. Stat. (here)
  2. 2024 Kentucky Rev. Stat.
  3. 2023 Kentucky Rev. Stat.
  4. View All Versions

2025 Kentucky Revised Statutes
Chapter 141 - Income taxes
141.017 Deductions allowed by this chapter limited to amounts directly or indirectly subject to taxation under this chapter -- No item to be deducted more than once.

Universal Citation:
KY Rev Stat § 141.017 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

Download as PDF
141.017 Deductions allowed by this chapter limited to amounts directly or indirectly subject to taxation under this chapter -- No item to be deducted more than once. (1) (2) (a) All deductions allowed by this chapter shall be limited to amounts directly or indirectly allocable to income subject to taxation under the provisions of this chapter. (b) Any deduction directly or indirectly allocable to income which is either exempt from taxation or otherwise not taxed under this chapter shall not be allowed. (c) This subsection does not apply to deductions allowed under Pub. L. No. 116260, secs. 276 and 278, related to the tax treatment of forgiven covered loans and deductions attributable to those loans for taxable years ending on or after March 27, 2020, but before taxable years beginning January 1, 2022. (d) This subsection shall not apply to deductions allowed under Pub. L. No. 1172, sec. 9673, relating to amounts allocable to income from grants to restaurants and other food service eligible entities under the restaurant revitalization grants program for taxable years beginning on or after January 1, 2020, but before March 11, 2023. Nothing in this chapter shall be construed to permit the same item to be deducted more than once. Effective: March 24, 2023 History: Amended 2023 Ky. Acts ch. 92, sec. 18, effective March 24, 2023. -Amended 2021 Ky. Acts ch. 22, sec. 1, effective March 15, 2021. -- Created 2018 Ky. Acts ch. 171, sec. 54, effective April 14, 2018; and ch. 207, sec. 54, effective April 27, 2018. Legislative Research Commission Note (4/27/2018). Pursuant to 2018 Ky. Acts ch. 207, sec. 153, the provisions created for this statute in that Act apply to taxable years beginning on or after January 1, 2018.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.