Question
Form 8990 Do I use my personal TTI, or the Anaylysis of Net Income (loss) from the LLC that provided the k-1's
On form 8990, Limitation on Business Interest Expense, Section II, Adjusted Taxable Income, is line 6 (Tentative Taxable Income) MY personal income from my 1040 or the income of the LLC that generated the excess business interest expense? I am a limited partner in the LLC, and am having difficulty parsing out whether this line refers to the partnership (the LLC and its Ordinary business income--line 1 of the k-1) or my personal (as a partner) Tentative Taxable Income from my 1040. Thank you.
