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Level 3
April 22, 2020
Question

K1 Excess Business Interest Expense

  • April 22, 2020
  • 3 replies
  • 19 views

I have a customer who received partnership  k1, Line 13, Code K for Excess Business Interest Expense.  It appears that the Form 8990 is unavailable.  Since the filing deadline is extended does anyone know if Proseries will have the Form 8990 available soon?  If not can a Form 8990 be done manually and attached as a PDF to the individual's return?

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3 replies

itonewbie
Level 15
April 22, 2020

IMHO, it's not a good idea to attach forms that actually need to be processed by the IRS.

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Beno58Author
Level 3
April 23, 2020

Would you consider mailing it in separately?  The Form 8990.

itonewbie
Level 15
April 23, 2020

If you're thinking of F.8453, you can't.  The transmittal can only be used with forms and documents listed and F.8990 is not among any of those.

---------------------------------------------------------------------------------Still an AllStar