35 Miss. Code. R. 3-02-08-101
Current through December 10, 2024
In the determination of taxable income or net income, all expenditures made by the parent or the child attributable to amounts which are includible in the gross income of the child and not of the parent are deemed to have been paid or incurred by the child. In such determinations, the child is entitled to take deductions not only for expenditures made on his behalf by his parent which would be commonly considered as business expense, but also for other expenditures such as charitable contributions made by the parent in the name of the child and out of the child's earnings.
35 Miss. Code. R. 3-02-08-101