If a taxpayer makes deposits or transfers of non-business income or money into a business account(s), sufficient documentation must be maintained to support the source of those funds. Such as:
1. If the non-business funds were a loan, maintain a copy of the signed loan instrument that shows the lenders name, date and amount of the loan.2. If the non-business funds were a transfer from a personal account or another business account, or if the funds were a refund, rebate or similar, maintain documentation to support the source of that money, including but not limited to cancelled checks and deposit slips.35 Miss. Code. R. 1-02-104