Okla. Admin. Code § 317:35-6-54

Current through Vol. 42, No. 8, January 2, 2025

Section 317:35-6-54 - Determination of current monthly amount of adjustments to income

(a) Expenses or losses that qualify as deductions for MAGI according to OAC 317:35-6-52 are totaled to reach an annual amount. The annual amount is then divided by 12 and subtracted from gross monthly income to calculate the household's current monthly MAGI.

(b) Whether a deduction is allowed when it has already been paid or when it has only been incurred is determined in accordance with Section 36B of the Internal Revenue Code.

Added at 30 Ok Reg 1209, eff 7-1-13