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Late Sub S K-1 sect 163(j) shows code AA - excess tax inc $20, Code AB exc business inc $41643. I think this is handled at entity level & not carried thru to 1040 return.

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Trying to research 163(j) and Form 8990 I've come to the conclusion that I don't have to pick this up on the individual level. It will go forward on the entity side and I guess come back to us somewhere in the future. Any comments?

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