Iowa Admin. Code r. 701-600.4
Current through Register Vol. 47, No. 6, September 18, 2024
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 a deduction. 71 Am. Jur. 2d State and Local Taxation, subsection 518 (1973).
This rule is intended to implement Iowa Code sections 422.35 and 422.61.
Iowa Admin. Code r. 701-600.4