POSNER, Circuit Judge.
The Internal Revenue Code allows a taxpayer to deduct "all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business." 26 U.S.C. § 162(a). But if the activity giving rise to the expenses "is not engaged in for profit," section 183 permits deduction of expenses incurred...
Let's get started
![Leagle.com](https://www.leagle.com/images/logo.png)
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.