Alabama § 38-14-7 - Exclusion from Gross Income.
Full text of Alabama Code of Alabama § 38-14-7 — Exclusion from Gross Income., with citation guidance and answers to common questions.
§ 38-14-7. Exclusion from Gross Income.
Money deposited into individual development accounts shall not be included in gross income for income tax purposes. Any amount withdrawn from a parallel account, matching funds, may not be includable in an eligible individual’s gross income. Money withdrawn from an individual development account shall only be included in gross income if used for a purpose other than a qualified purpose.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 38-14-7
What does Code of Alabama § 38-14-7 cover?
Section 38-14-7 ("Exclusion from Gross Income.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 38-14-7?
A common citation format is "Code of Alabama § 38-14-7" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 38-14-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.