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Business Interest Deduction

  • 1.  Business Interest Deduction

    Posted 03-25-2019 21:07
    ​One of my clients has 8 entities under common control with combined gross income of over $25 million, so they are filing Form 8990.  One of the entities is a trust that owns commercial buildings and rents entire space to the main operating company.  Are trusts that own businesses required to file Form 8990?  If so, how is the information entered into Lacerte for a trust?

    Ironically, the trust is the only entity where the interest would be limited.

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    Ruth Sattig Betz
    RUTH A. SATTIG BETZ, CPA
    Farmingdale NY
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