26-U.S.C.-212
§212 – Expenses For Production of Income
Pathway
Title 26 > Subtitle A > Chapter 1 > Subchapter B > Part VII > Section 212
Details
- Reference: Section 212
- Legend: §212 – Expenses For Production of Income
- USCode Year: 2013
Provision Content
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.)
Denial of Deduction for Amounts Paid or Incurred on Judgments in Suits Brought To Recover Price Increases in Purchase of New Principal Residence
No deductions to be allowed in computing taxable income for two-thirds of any amount paid or incurred on a judgment entered against any person in a suit brought under section 208(b) of Pub. L. 94–12, see section 208(c) of Pub. L. 94–12, set out as a note under section 44 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-184 in the Legal Encyclopedia: Income Taxes
In this entry about 26-U.S.C.-184, find legal reference material, bibliographies and premiere content related to income taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States income taxes-specific issues, written by authorities in the field.
26-U.S.C.-198 in the Legal Encyclopedia: Tax Liability
In this entry about 26-U.S.C.-198, find legal reference material, bibliographies and premiere content related to tax liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax liability-specific issues, written by authorities in the field.
26-U.S.C.-180 in the Legal Encyclopedia: Taxation
In this entry about 26-U.S.C.-180, find legal reference material, bibliographies and premiere content related to taxation in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxation-specific issues, written by authorities in the field.
26-U.S.C.-198A in the Legal Encyclopedia: Liability
In this entry about 26-U.S.C.-198A, find legal reference material, bibliographies and premiere content related to liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States liability-specific issues, written by authorities in the field.
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