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Returning Member
posted Apr 8, 2020 1:41:56 PM

CARES act.Has Turbo Tax changed the business interest deduction from 30% to 50% if so I am not seeing it when I enter my interest ?

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2 Replies
Expert Alumni
Apr 8, 2020 4:09:45 PM

I'm not sure if that has been update yet. If you are using the desktop TurboTax, have you run your updates?

Level 14
Apr 9, 2020 9:54:51 AM

IF that applies to your tax return, you REALLY should be going to a tax professional.  The change of that limitation is based on a law that only applies to businesses with average receipts/income of over $25 million.  A business of that size should really be going to a tax professional.