Page 85 - Large Business IRS Training Guides

Objectives 1

At the end of Parts 1 and 2, you will be able to:

• Identify the basic formula for the limitation on

business interest expense under IRC § 163(j),

• Summarize the difference between pre and post

TCJA IRC § 163(j),

• Identify taxpayers that are exempt from or can

elect out of the limitation on business interest

expense for specific trades or businesses, and

• Identify applicable ordering rules.

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