DianeW777
Expert Alumni

Business & farm

It depends. Excess business interest income is the amount by which business interest income exceeded business interest expense at the partnership level. Excess taxable income is allocated to each partner in the same manner as the non-separately stated taxable income or loss of the partnership. The link below should help you finalize your form. 

Once you are confident in your numbers you can move forward with Form 8990 and mail it with your tax return.

 

@Florida-Rob 

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