Section 24360.
Cal. Revenue and Taxation Code - RTC § 24360.
in effectIn the case of any bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond):
(a)
In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction.
(b)
In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section 23501), no deduction
shall be allowed for the amortizable bond premium for the taxable year.
References
referencesCal. Revenue and Taxation Code - RTC § 24363.
referencesCal. Revenue and Taxation Code - RTC § 24361.
referencesCal. Revenue and Taxation Code - RTC § 23501.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026