{"data":{"id":"us-ky/krs-141.017","jurisdiction":"us-ky","citation":"KRS 141.017","heading":"Deductions allowed by this chapter limited to amounts directly or","body":"indirectly subject to taxation under this chapter -- No item to be deducted\nmore than once.\n(1) (a) All deductions allowed by this chapter shall be limited to amounts directly or\nindirectly allocable to income subject to taxation under the provisions of this\nchapter.\n(b) Any deduction directly or indirectly allocable to income which is either\nexempt from taxation or otherwise not taxed under this chapter shall not be\nallowed.\n(c) This subsection does not apply to deductions allowed under Pub. L. No. 116 -\n260, secs. 276 and 278, related to the tax treatment of forgiven covered loans\nand deductions attributable to those loans for taxable years ending on or after\nMarch 27, 2020, but before taxable years beginning January 1, 2022.\n(d) This subsection shall not apply to deductions allowed under Pub. L. No. 117 -\n2, sec. 9673, relating to amounts allocable to income from grants to\nrestaurants and other food service eligible entities under the restaurant\nrevitalization grants program for taxable years beginning on or after January\n1, 2020, but before March 11, 2023.\n(2) Nothing in this chapter shall be construed to permit the same item to be deducted\nmore than once.","path":["KRS Chapter 141"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=53497","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:33Z","sha256":"725cadaf215cdc6d7a1d2f7873f98e122d46b4d3a0f97d97f0fac5754dc44077","source_id":"us-ky","stale":false,"prev":"us-ky/krs-141.016","next":"us-ky/krs-141.018"},"notice":"GroundRules: Original legal text. Not legal advice."}