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After determining that an expense is not a capital expenditure, § 162 (and § 212), coupled with § 274 define and delimit the precise scope of expenses of generating income that taxpayer may deduct. Read § 162(a). How many types of trade or business expenses are deductible?
- We will consider several § 162 issues, but we will not consider them in the sequence in which they appear in the Code.
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