The 163(j) Interest Deduction Limitation
This course will focus on how the 2017 TCJA business interest expense deduction limit (§163(j)) will impact domestic entities and their owners. While C corporations will be discussed, the course will primarily focus on the special computational and reporting rules that apply to domestic S corporations, S shareholders, domestic partnerships, individual partners, and corporate partners. The treatment of partnerships and partners will be emphasized.
- Determining when the entity or owners are subject to the 163(j) limit.
- The gross receipts test and the daunting aggregation rules.
- When and how to elect out for real estate T-Bs and farmers.
- The computation of adjusted taxable income.
- Special rules for S corporations and partnerships explained with numerous examples.
- Partner and S shareholder level considerations with several examples.
- K-1 reporting requirements for S corporations and partnerships.
- Discussion of IRS Form 8990 and the additional reporting required of partnerships.
Identify the special computational and reporting rules that apply to domestic S Corporations, S shareholders, domestic partnerships, individual partners, and corporate partners. Special allocation tactics for partners will also be explored.
CPAs and lawyers.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.