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This article will help you enter information for Form 8990 Limitation on Business Interest Expense Under Section 163(j) in a partnership, S-corporate, corporate, individual, or exempt organization return. 

This form isn’t supported in the fiduciary module (Form 1041), but can be prepared separately and attached to the return as a PDF.

When is Form 8990 required?

Generally, your client must file an 8990 if:

  • They have business interest expense,
  • They have a disallowed business interest expense carryforward,
  • They have current or prior year excess business interest expense, or
  • They’re a passthrough entity.

Your client may qualify for an exclusion from filing Form 8990 if they’re considered a small business taxpayer. Small business taxpayers are those not classified as a tax shelter who meet the gross receipts test for the prior three years.

Review the Form 8990 instructions for details on the gross receipts test and other exclusions for excepted businesses. Note that passthrough entities not subject to the 163(j) limitations may need to provide their owners with information required to complete their own Form 8990, even though the passthrough isn’t required to file the form.

Click on your tax type below to view instructions on generating the form or a worksheet to provide to passthrough owners.

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