Page 113 - Large Business IRS Training Guides
P. 113

Allocating Interest Expense –


                            Personal, Investment and Other








        After determining the amount of interest expense, a


        taxpayer must allocate interest expense between


        personal, investment, and other interest expense


        (including business interest expense).



               • See Treas. Reg. § 1.163-8T, Notice 88-37 and


                    Notice 89-35 for more information.





        IRC § 163(j) only applies to the “other interest


        expense” category.













                                                                                                                                     43
   108   109   110   111   112   113   114   115   116   117   118