I am a self-employed (graphic designer) and some interest due to some investment in expensive hardware.
It's not really clear for me if there is a limitation or not?
I found in the IRS documentation that :
"The business interest expense deduction allowed for a tax year is generally limited to the sum of:
1. Business interest income,
2. 30% of the adjustable taxable income, and
3. Floor plan financing interest."
But I'm not sure if Turbotax handles it automatically or if I should be careful of that?
