The 163(j) Interest Deduction Limitation
Description
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.
Highlights
- 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.
Objectives
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.
Designed For
CPAs and lawyers.
Registration for this course has passed.
Course Pricing
Member Fee
Applicable if you are a HSCPA member in good standing. |
$120.00 |
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Non-Member Fee
Applicable if you are not a HSCPA member. |
$188.00 |
Your Price | $188.00 |