Title 26 — Internal Revenue CodeRelease 119-73
§212 Expenses for production of income
Title 26 › Subtitle Subtitle A— - Income Taxes › Chapter CHAPTER 1— - NORMAL TAXES AND SURTAXES › Subchapter Subchapter B— - Computation of Taxable Income › Part PART VII— - ADDITIONAL ITEMIZED DEDUCTIONS FOR INDIVIDUALS › § 212
Summary
Individuals can deduct necessary costs paid in the tax year for earning income, managing property that makes income, or handling taxes.
Full Legal Text
Title 26, §212
Internal Revenue Code — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Denial of Deduction for Amounts Paid or Incurred on Judgments in Suits Brought To Recover Price Increases in Purchase of New Principal ResidenceNo 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.
Reference
Citations & Metadata
Citation
26 U.S.C. § 212
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73