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Diagnostic 51273 - Gross Receipts - Business Interest Expense Limitation - Section 448

Level 1

I am preparing an LLC return with three members. The LLC's average gross receipts are less than $29M; however, when adding gross receipts for controlled LLCs, the average gross receipts exceed $29M. Should I override gross receipts on Input Screen 5, Codes 59, 60, and 61 to include gross receipts for all controlled LLCs? I think this is what Diagnostic 51273 is alluding to.

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