The crucial reason for determining whether an item is deductible as an expense u

Question

The crucial reason for determining whether an item is deductible as an expense under §162 or under § 212 is that

            a.         production-of-income expenses are not deductible.

            b.         § 162 business expenses usually are deductions for A.G.I., while § 212 production-of-income expenses usually are miscellaneous itemized deductions.

            c.         § 162 business expenses are deductions from A.G.I., while § 212 production-of-income expenses are deductions for A.G.I.

            d.         it resolves certain ownership questions.

Explanation / Answer

The crucial reason for determining whether an item is deductible as an expense under §162 or under § 212 is that

c.         § 162 business expenses are deductions from A.G.I., while § 212 production-of-income expenses are deductions for A.G.I

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