George4Tacks
Level 15
05-30-2021
10:03 PM
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Probably does not affect your 1040 client
Code AC. Gross receipts for section 448(c) Use the gross receipts amount to figure the business interest
expense you can deduct, if applicable. See section 163(j) and the Instructions for Form 8990 for details.
Answers are easy. Questions are hard!