§ 212. - Expenses for Production of Income
26 U.S.C. § 212
in: § 212. - Expenses for Production of Income
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. (Aug. 16, 1954, ch. 736, 68A Stat. 69.)
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