According to the Internal Revenue Code §162, deductible trade or business expenses must be one of the following?

Question

Quizplus · Accepted Answer

Deductible trade or business expenses must be ordinary and necessary. This means they must be commonly accepted in the particular trade or business and helpful and appropriate for the conduct of the trade or business. The other choices are not relevant criteria for deductible expenses.

According to the Internal Revenue Code §162, Deductible Trade or Business