26 U.S.C. § 212 - Expenses for production of income

• Cite as: 26 U.S.C. § 212

In the case of an individual, there shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year-

(1) for the production or collection of income;

(2) for the management, conservation, or maintenance of property held for the production of income; or

(3) in connection with the determination, collection, or refund of any tax.

Cite as 26 U.S.C. § 212

Source: Aug. 16, 1954, ch. 736, 68A Stat. 69.

Notes from the Office of Law Revision Counsel