Employee
10-12-2021
12:59 PM
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Hi, Birmingham. I believe you're referring to the business interest expense limitation. This calculation limits the amount of business interest expense that can be deducted. However, most taxpayers (partners) are exempt if they are considered a small business. I believe the threshold is less than $50M of gross receipts from the business. If this is the case, there is no need to file Form 8990 or limit the interest expense.
As an alternative to entering all countries, you can select Other Country (OC) from the country field and you can combine the amounts.