personal transaction
Defined in 1 place of the United States Code.
For purposes of this subsection, the term “personal transaction” means any transaction entered into by an individual, except that such term shall not include any transaction to the extent that expenses properly allocable to such transaction meet the requirements of—
(A) section 162 (other than traveling expenses described in subsection (a)(2) thereof), or
(B) section 212 (other than that part of section 212 dealing with expenses incurred in connection with taxes).
Source
- 1997–present26 U.S.C. § 988Internal Revenue Code · Treatment of certain foreign currency transactions · for purposes of this subtitle