Partners not subject to 163(j)

For partners with Schedule K-1, Code 13K Excess Business Interest Expense who aren't subject to section 163(j), UltraTax CS completes Form 8990, Page 3, Schedule A – Summary of Partner’s Section 163(j) Excess Items. The allowed amount of excess interest expense will be computed after applicable basis, at-risk and passive limitations. Any excess business interest expense not allowed will be carried to next year.
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