Hi Rich,
Happy to help. Well you could still e-file without the Form 8990, since this year it makes no difference in your taxes, and you have nothing you are carrying forward from last year for use this year. Then you could do an amended return with just the Form 8990. Nothing else would change.
My caveats, I’m an engineer, not a tax professional, but I had to educate myself on the Section 163(j) issues because I have K-1’s from six different states, with small amounts, so I’m not further subject to the limitations either. I do wonder if the IRS would even care if you ignored the 8990 and the carry forward. If you don’t track the amount to carry forward, the IRS probably won’t care, because you won’t be able to deduct it in the future, and more money for them.
Steve
