KPMG report: New section 163(j)—partnership issues

KPMG report: New section 163(j)—partnership issues

The new U.S. tax law created new rules that limit the deduction of business interest expense. With respect to interest incurred by a partnership, the drafters of new section 163(j) adopted a unique “entity approach,” providing that the interest limitation is applied and limited at the partnership level.

1000

Related content

This KPMG report, published on September 24, 2018, provides a detailed explanation of the new interest deduction rules and explains why using the entity approach added significant complexity and ambiguity to the rules for both partners and partnerships. 

 

Read the September 24, 2018 report [PDF 175 KB] prepared by KPMG LLP: What’s News in Tax: The New Section 163(j): Partnerships Issues

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal