ITAX Gross Income R12-119X
What is the tax-benefit rule?
If an expense was deducted in a prior period, and the deduction reduced the taxpayer’s income, the taxpayer should include the expense reimbursement in income.
What is the tax-benefit rule?
If an expense was deducted in a prior period, and the deduction reduced the taxpayer’s income, the taxpayer should include the expense reimbursement in income.