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How can I apply the new tax law changes in TurboTax Business 2019 Forms?
I want my 2019 Form 1065 to reflect the new tax law changes like repeal of the interest deduction limitation, from the CARES act, but the defaults are still set to limit the deduction. Is there an override?
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April 16, 2020
9:15 PM
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Get your taxes done using TurboTax
Are the changes retroactive back to 2019? Or just for 2020?
April 16, 2020
9:22 PM
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They are retroactive, basically repealing changes made beginning calendar year 2018 for interest expense limitations, NOL carrybacks, bonus depreciation, etc.
April 16, 2020
10:35 PM