MJR
Level 1

Thank you for your quick response during this busy time.  Yes, the excess interest expense from box 13K was limited via 2 K-1s which I listed on Schedule A.  I left the rest of the form blank because there would be no calculations.  In the future, as you know, each specific K-1 needs to have excess taxable income or excess business interest income to offset it.  They total over $10,000 so I thought I'd file an amended return for 2021 and just include Form 8990 that wasn't originally attached to the return.  Then I could manually (can't believe we don't have an individual 8990 yet on PS) prepare a 8980 for 2022 and show the prior year carryforward.  No excess taxable income or excess business interest income to offset it this year either, so it would be another carryforward. If this would work, I won't forget to attach the pdf this year.  What do you think?

 

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