Schedule K-1 Code AE

sgiitb85 — Sat, 10 Apr 2021 23:05:14 GMT

I am entering K-1 data from one of the LP's. And against Line 20, Code AE (Excess Taxable Income), the Turbo Tax form says

*Not provided for in program. Manually enter on appropriate tax form.

Any idea what to do with this entry?

Re: Schedule K-1 Code AE

JamesG1 — Mon, 12 Apr 2021 16:05:19 GMT

See Instructions for Form 8990.

IRS Form 899 0 Limitation on Business Interest Expense under Section 163(j).

Use Form 8990 to figure the amount of business interest expense you can deduct and the amount to carry forward to the next year.