Denial of interest deductions in certain cases
(A) In general
(A)In general#
No deduction otherwise allowable under this chapter shall be allowed under this chapter for any interest paid or accrued on any loan to which paragraph (1) does not apply by reason of paragraph (2) during the period described in subparagraph (B).
(B)Period to which subparagraph (A) applies#
For purposes of subparagraph (A), the period described in this subparagraph is the period—
(i) on or after the 1st day on which the individual to whom the loan is made is a key employee (as defined in section 416(i)), or
(ii) such loan is secured by amounts attributable to elective deferrals described in subparagraph (A) or (C) of section 402(g)(3).
(B)(i)#
on or after the 1st day on which the individual to whom the loan is made is a key employee (as defined in section 416(i)), or
(B)(ii)#
such loan is secured by amounts attributable to elective deferrals described in subparagraph (A) or (C) of section 402(g)(3).