Can someone explain thisSubmitted by letushope on Wed, 04/16/2008 - 10:09
TITLE 26 > Subtitle A > CHAPTER 1 > Subchapter B > PART VII > §
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.
Does this mean I can deduct my gas, insurance etc to drive to and from work? What else can I deduct?