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(a) Unless otherwise specified, a taxpayer's costs giving rise to a deduction under 15 AAC 21.210 - 15 AAC 21.290 are regarded as being incurred on a cash basis or on an accrual basis, depending on which basis is used for purposes of the taxpayer's financial accounting.
(b) Costs previously claimed and actually deducted on one or more of a taxpayer's returns filed under AS 43.20 and 15 AAC 20 must be excluded from the costs to be used in calculating a deduction under 15 AAC 21.210 - 15 AAC 21.290.
(c) When a taxpayer incurs costs giving rise to a deduction under 15 AAC 21.210 - 15 AAC 21.290 and part or all of those costs are reimbursable to the taxpayer from one or more third parties, only the unreimbursed portion of those costs of the taxpayer may be used in calculating that deduction.
History: Eff. 2/22/79, Register 69
Authority: AS 43.05.080
Art. IV, § 18
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Last modified 7/05/2006