
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC212]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
               Subchapter B--Computation of Taxable Income
 
        PART VII--ADDITIONAL ITEMIZED DEDUCTIONS FOR INDIVIDUALS
 
Sec. 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.)


 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.

                  Section Referred to in Other Sections

    This section is referred to in sections 62, 127, 164, 183, 197, 263, 
265, 274, 404, 469, 691, 772, 773, 860C, 988, 1275, 6421 of this title.
