Page:United States Statutes at Large Volume 68A.djvu/109

 CH. 1—NORMAL TAXES AND SURTAXES

PART

ft

VII—ADDITIONAL ITEMIZED INDIVIDUALS Sec. Sec. Sec. Sec. Sec. Sec.

69

DEDUCTIONS

FOR

211. 212. 213. 214. 215. 216.

Allowance of deductions. Expenses for production of income. Medical, dental, etc., expenses. Expenses for care of certain dependents. Alimony, etc., payments. Amounts representing taxes and interest paid to cooperative housing corporation. Sec. 217. Cross references.

SEC. 211. ALLOWANCE OF DEDUCTIONS.

In computing taxable income under section 63(a), 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). 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. SEC. 213. MEDICAL, DENTAL, ETC., EXPENSES. (a) ALLOWANCE OF DEDUCTION.—There shall be allowed as a

deduction the expenses paid during the taxable year, not compensated for by insurance or otherwise, for medical care of the taxpayer, his spouse, or a dependent (as defined in section 152)—• (1) if neither the taxpayer nor his spouse has attained the age of 65 before the close of the taxable year, to the extent that such expenses exceed 3 percent of the adjusted gross income; or (2) if either the taxpayer or his spouse has attained the age of 65 before the close of the taxable year— (A) the amount of such expenses for the care of the taxpayer and his spouse, and (B) the amount by which such expenses for the care of such dependents exceed 3 percent of the adjusted gross income. (b) LIMITATION

WITH

RESPECT

TO M E D I C I N E

AND D R U G S. —

Amounts paid during the taxable year for medicine and drugs which (but for this subsection) would be taken into account in computing the deduction under subsection (a) shall be taken into account only to the extent that the aggregate of such amounts exceeds 1 percent of the adjusted gross income. (c) MAXIMUM LIMITATIONS.—The deduction under this section shall not exceed $2,500, multiplied by the number of exemptions allowed for the taxable year as a deduction under section 151 (other than exemptions allowed by reason of subsection (c) or (d), relating to additional exemptions for age or blindness); except that the maximum deduction under this section shall be— (1) $5,000, if the taxpayer is single and not the head of a household (as defined in section 1(b)(2)) and not a surviving spouse § 213(c)(1)

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