I'm not sure if I should put this in a completely new post or not, but I have another question regarding these K-1 statements I have.
There is a page of Footnotes after the K-1, and one of them is titled Section 163(J) - Interest Expense Limitation
There is a lot of words and several numbers in this section.
They list the annual gross receipts for the 3 tax years preceding the current tax year - so there are amounts listed for 2018, 2019, and 2020.
It says to "Please multiply the gross receipts above by your ownership interest in the partnership for each year to determine your share of annual gross receipts from this business activity. The Section 163(J) rules are complex...."
Is there a form in TT that I need to fill out to do this?
