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.
Cited in 825 Tax Court opinions, 24 orders, and 37 briefs.
Current through Pub. L. 119-102 (2026-07-12).
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