Iowa Admin. Code r. 701-51.5

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 701-51.5 - 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 to the satisfaction of the department the validity and correctness of such deduction. 71 Am. Jur 2d State and Local Taxation, Subsection 518 (1973).

This rule is intended to implement Iowa Code section 42235..