My K-1 Box 20 has Code AH with the following description:
Business Interest Expense Limitation Information:
Adjusted Taxable Income $10,555
I don’t know what I am supposed to do with this information. The dollar amount does not seem to be related to any other information on the form. I did not know if this is an additional income for my Maryland tax return? I did not know if I am to do anything with the dollar amount for my 2019 taxes or for my future 2020 taxes. Do you know what this means? In looking at the IRS document “2019 Partner’s Instructions for Schedule K-1” it is still unclear to me what the description means.
Thanks for your help!
