November 16, 2020
The Mann Report published an article by Manager Rachel Lawent, discussing what investors need to know about the Section 163(j) Limitation on Deducting Interest Expense.
The Mann Report
By Rachel Lawent, Manager, Tax & Business Services
Excerpt:
The TCJA added complexity for owners of businesses that have interest expense with the addition of Internal Revenue Code Section 163(j). Be sure to take note of any 163(j) items disclosed on K-1s that you receive to make sure you are taking all deductions to which you are entitled.
