### Question
What is the definition of specified liability loss?


### Answer
The definition of **specified liability loss** is as follows in *26 U.S.C. § 172*:

> the sum of the following amounts to the extent taken into account in computing the net operating loss for the taxable year:


(A) Any amount allowable as a deduction under section 162 or 165 which is attributable to—


(i) product liability, or


(ii) expenses incurred in the investigation or settlement of, or opposition to, claims against the taxpayer on account of product liability

#### Citation:
  - *26 U.S.C. § 172*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

