Current through Pub. L. 119-100Open in workspace

§ 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.)

Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 212

Source: decipher.legal/usc/26/212 · Internal Revenue Code, current through Pub. L. 119-100 (OLRC XML of 2026-04-17)