Iowa Admin. Code r. 701-38.4

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 701-38.4 - Authority for deductions

Whether and to what extent deductions shall be allowed depends upon specific legislative acts, and only where there is a clear provision can any particular deduction be allowed. Therefore, a deduction will be allowed only if the taxpayer can establish the validity and correctness of such deduction.

This rule is intended to implement Iowa Code sections 4227. and 4229..