How do I get Lacerte to take a deduction for excess business interest expense carryforward on a partnership that was sold during 2020?

nwempe · ‎08-12-2021

Pass thru entity sold during 2020 but Lacerte not allowing any of the interest expense. Also only allowing 50% of excess business interest expense generated in a separate partnership which I believe is because that was generated in 2019 and the CARES act allows for that. But when do we ever get to take the other carryforward or how do I override so it will take the expense generated by the p/s that sold?

PhoebeRoberts · ‎08-12-2021

My notes from 2019 say that the disallowed excess business interest expense is added back to basis on disposition.