Page 130 - Large Business IRS Training Guides
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Summary 2
Business Interest Income/Expense (BII and BIE)
• Means any interest includible in gross income
(BII), paid or accrued (BIE) - which is properly
allocable to a trade or business.
Definition of Interest for IRC § 163(j)
• Prevents businesses from financing transactions
in such a way as to avoid the interest deduction
limitation.
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