SECTION 54. Determination of current monthly amount of adjustments to income
317:35-6-54. Determination of current monthly amount of adjustments to income
[Issued 07-01-13]
(a)Expenses or losses that qualify as deductions for MAGI…#
(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…#
(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.
Disclaimer. The OHCA rules found on this Web site are unofficial. The official rules are published by the Oklahoma Secretary of State Office of Administrative Rules as Title 317 of the Oklahoma Administrative Code. To order an official copy of these rules, contact the Office of Administrative Rules at (405) 521-4911.