Jump to content
ATX Community

Business Interest Expense Carryforward on Form 8990


Tal10

Recommended Posts

Hello. I have a client who is a real estate professional. He only deals in residential rental properties. He has been subject to 163(j) since inception. He did not make an RPTB (Real Property Trade or Business) election from 2018-2021, as he gained more benefit from the depreciation deductions than he would have from the interest deductions. This changed in 2022, however, with the more restrictive limitations in place. So, an RPTB election was made for 2022. But now there are several million in disallowed business interest expense carryforwards, and I cannot, for the life of me, find information on how I should be completing Form 8990. Has anyone run into this, and if so, what resources did you use to muddle through this form?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...