DVMCFO
Level 1
05-12-2021
10:32 PM
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When I enter the disallowed prior year interest expense (section 1 line 2) I receive the following error message:
Form 8990: The disallowed business interest expense carryforwards from prior years must be allocated and entered, as applicable, in the Deductions, Farm, Rental Real Estate, Other Rentals, and/or K-1 screens.
Where is this allocation completed in pro connect? How is it allocated?
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qbteachmt
Level 15
05-13-2021
11:32 AM
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You started a duplicate topic here:
On the same issue of Form 8990.
Now you have this in Two Places.
Have you read the instructions for Form 8990 from the IRS?
Also, read through the steps described by this Lacerte help article, to understand this gets distributed and allocated as applicable to your conditions:
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
