United States IRC sections
Statute section
IRC section 162
Trade or business expenses
Country
United States
Section
162
Updated
2026-05-01
Operative text
There shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including reasonable compensation, certain travel, and certain rentals or payments for property use.
Cross-references
26 U.S.C. 61
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
This entry cites
- StatuteIRC §61
- CaseDeputy v. du Pont
- CaseHiggins v. Commissioner
Primary sources
- 26 U.S.C. section 162Verified 2026-05-01
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.