Form 8990 -

Forum|Forum|1 year ago
April 3, 2025
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I have a K-1 with an amount of $203 in 13K - Excess business interest expense (EBIE).

I have filled out schedule A on the 8990, with $203 in 43i.

I don't know where to enter it in section 1. Does it go in line 1?

When I get to question 6, am I suppose to enter the "tentative Taxable income" from the K-1? or from my own personal 1040.

I have the same question for the rest of the form. Are the questions related to my own personal income tax for 1040, or are they related to the K-1?

If there is only $203 of EBIE, and a loss on line 1 of the K-1, is there any benefit to my filling out the 8990, which seems very complicated.

ThomasM125

Line 43(i) would be the excess business interest carryover to the next year. That amount would not be carried over to section I. I don't see a question 6 in the instructions so I'm not sure what you are referring to there.

I assume you are working on your personal tax return and the Form 8990 applies to it. Since the excess business interest is only $203 you can just not report it if you don't want to take the deduction.

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