26 U.S.C. § 212
§ 212. Expenses for production of income
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Unchanged since the 1954 code.
Every change, newest first (1)
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
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.