dhuie
New Member

TT Business says we "indicated the business owns a pass-through entity with excess business interest expense." This is not the case, so how do I go about correcting this?

 

Business & farm

If you have a 1065 partnership, you answered no to question 24 on the 1065 return. It’s written different from the other questions, so change it to yes if you satisfy the 163(j) exemptions. Ie under $25 million, didn’t get a K-1 from an entity you own, etc.

If it’s an 1120S look at question 10.