For an LLC Partnership, I am using Form 8990 to track Excess Business Interest Expense (Schedule K1 line 13 “K"). My question is, how to ever recoup this tracked EBIE?
But does this loss ever become "allowable" again and folded back into the 1040 as a business loss? (Maybe if the Partnership shows a positive income? It's been a reported loss the first two years.) This is an LLC Partnership (Real Estate Syndicate), not a PTP Public Traded Partnership.
Any way to ever recoup the EBIE except for the two methods listed above?
Thank you,
Any replies welcome! Not sure I can tag, but # nexchap, and # smarc seem to be the experts, so, thanks for any attention!
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look at form 8990 section IV. just the two methods you cited or basis adjustment.
look at form 8990 section IV. just the two methods you cited or basis adjustment.
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