Form 8990
(Rev. December 2019)
Department of the Treasury
Internal Revenue Service
Limitation on Business Interest Expense
Under Section 163(j)
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Attach to your tax return.
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Go to www.irs.gov/Form8990 for instructions and the latest information.
OMB No. 1545-0123
Taxpayer name(s) shown on tax return Identification number
Part I Computation of Allowable Business Interest Expense
Part I is completed by all taxpayers subject to section 163(j). Schedule A and Schedule B need to be completed before Part I when the
taxpayer is a partner or shareholder of a pass-through entity subject to section 163(j).
Section I—Business Interest Expense
1
Current year business interest expense (not including floor plan financing
interest expense), before the section 163(j) limitation . . . . . . . . 1
2
Disallowed business interest expense carryforwards from prior years. (Does
not apply to a partnership) . . . . . . . . . . . . . . . . . 2
3
Partner’s excess business interest expense treated as paid or accrued in
current year (Schedule A, line 44, column (h)) . . . . . . . . . . . 3
4 Floor plan financing interest expense. See instructions . . . . . . . .
4
5 Total business interest expense. Add lines 1 through 4 . . . . . . . . . . . . . .
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5
Section II—Adjusted Taxable Income
Taxable Income
6 Taxable income. See instructions . . . . . . . . . . . . . . . . . . . . . .
6
Additions (adjustments to be made if amounts are taken into account on line 6)
7
Any item of loss or deduction which is not properly allocable to a trade or
business of the taxpayer. See instructions . . . . . . . . . . . .
7
8 Any business interest expense not from a pass-through entity. See instructions 8
9 Amount of any net operating loss deduction under section 172 . . . . . 9
10
Amount of any qualified business income deduction allowed under section 199A
10
11
Deduction for depreciation, amortization, or depletion attributable to a trade or
business. See instructions . . . . . . . . . . . . . . . . . 11
12
Amount of any loss or deduction items from a pass-through entity. See
instructions . . . . . . . . . . . . . . . . . . . . . . 12
13 Other additions. See instructions . . . . . . . . . . . . . . . 13
14
Total current year partner’s excess taxable income (Schedule A, line 44,
column (f)) . . . . . . . . . . . . . . . . . . . . . . 14
15
Total current year S corporation shareholder’s excess taxable income
(Schedule B, line 46, column (c)) . . . . . . . . . . . . . . . 15
16 Total. Add lines 7 through 15 . . . . . . . . . . . . . . . . . . . . . . .
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16
Reductions (adjustments to be made if amounts are taken into account on line 6)
17
Any item of income or gain which is not properly allocable to a trade or
business of the taxpayer. See instructions . . . . . . . . . . . .
17
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18 Any business interest income not from a pass-through entity. See instructions 18
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19
Amount of any income or gain items from a pass-through entity. See instructions
19
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20 Other reductions. See instructions . . . . . . . . . . . . . . 20
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21 Total. Combine lines 17 through 20 . . . . . . . . . . . . . . . . . . . . .
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21
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22 Adjusted taxable income. Combine lines 6, 16, and 21. (If zero or less, enter -0-.) . . . . .
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22
Section III—Business Interest Income
23 Current year business interest income. See instructions . . . . . . . 23
24
Excess business interest income from pass-through entities (total of Schedule
A, line 44, column (g); and Schedule B, line 46, column (d)) . . . . . . 24
25 Total. Add lines 23 and 24 . . . . . . . . . . . . . . . . . . . . . . . .
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25
For Paperwork Reduction Act Notice, see the instructions.
Cat. No. 37814C
Form 8990 (Rev. 12-2019)
