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26 U.S.C. § 212 — Expenses for production of income
Federal law — U.S. Code and appendices · legal_authorities
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.
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Source file: Laws/federal/codes/united-states-code/title-26/section-212-expenses-for-production-of-income--467fcd67a8.md
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Source location: Title 26, Chapter 1, § 212; chapter-001-normal-taxes-and-surtaxes.md
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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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** For purposes of section 38, in the case of an eligible small business, the amount of the disabled access credit determined under this section for any taxable year shall be an amount equal to 50 percent of so much of the eligible access expenditures for the taxable year as exceed $250 but do not exceed $10,250.
**(b) Eligible small business** For purposes of this section, the term “eligible small business” means any person if—
(1) either—
(A) the gross receipts of such person for the preceding taxable year did not exceed $1,000,000, or
(B) in the case of a person to which subparagraph (A) does not apply, such person employed not more than 30 full-time employees during the preceding taxable year, and
(2) such person elects the application of this section for the taxable year.
For purposes of paragraph (1)(B), an employee shall be considered full-time if such employee is employed at least 30 hours per week for 20 or more calendar weeks in the taxable year.
**(c) Eligible access expenditures** For purposes of this section—
(1) **In general** — The term “eligible access expenditures” means amounts paid or incurred by an eligible small business for the purpose of enabling such eligible small business to comply with applicable requirements under the Americans With Disabilities Act of 1990 (as in effect on the date of the enactment of this section).
(2) **Certain expenditures included** — The term “eligible access expenditures” includes amounts paid or incurred—
(A) for the purpose of removing architectural, communication, physical, or transportation barriers which prevent a business from being accessible to, or usable by, individuals with disabilities,
(B) to provide qualified interpreters or other effective methods of making aurally deli
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 44
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Federal law — U.S. Code and appendices · legal_authorities
Page 937
TITLE 26—INTERNAL REVENUE CODE
§ 213
1962—Pub. L. 87–834, § 28(b), Oct. 16, 1962, 76 Stat. 1068,
substituted ‘‘Deduction of taxes, interest, and business
depreciation by cooperative housing corporation ten-
ant-stockholder’’ for ‘‘Amounts representing taxes and
interest paid to cooperative housing corporation’’ in
item 216.
§ 211. Allowance of deductions
In computing taxable income under section 63,
there shall be allowed as deductions the items
specified in this part, subject to the exceptions
provided in part IX (section 261 and following,
relating to items not deductible).
(Aug. 16, 1954, ch. 736, 68A Stat. 69; Pub. L. 95–30,
title I, § 102(b)(3), May 23, 1977, 91 Stat. 137.)
Editorial Notes
AMENDMENTS
1977—Pub. L. 95–30 substituted ‘‘section 63’’ for ‘‘sec-
tion 63(a)’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1977 AMENDMENT
Amendment by Pub. L. 95–30 applicable to taxable
years beginning after Dec. 31, 1976, see section 106(a) of
Pub. L. 95–30, set out as a note under section 1 of this
title.
§ 212. Expenses for production of income
In the case of an individual, there shall be al-
lowed as a deduction all the ordinary and nec-
essary expenses paid or incurred during the tax-
able year—
(1) for the production or collection of in-
come;
(2) for the management, conservation, or
maintenance of property held for the produc-
tion of income; or
(3) in connection with the determination,
collection, or refund of any tax.
(Aug. 16, 1954, ch. 736, 68A Stat. 69.)
Statutory Notes and Related Subsidiaries
DENIAL
OF
DEDUCTION
FOR
AMOUNTS
PAID
OR
IN-
CURRED
ON JUDGMENTS
IN SUITS BROUGHT TO RE-
COVER PRICE INCREASES IN PURCHASE OF NEW PRIN-
CIPAL RESIDENCE
No deductions to be allowed in computing taxable in-
come for two-third
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 212
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