The IRS posted a draft version of the instructions for Form 8990, “Limitation on Business Interest Expense Under Section 163(j)” (Rev. December 2018).
The draft version of the Form 8990 instructions [PDF 283 KB] reflects a “watermark” date of December 7, 2018, and includes cautionary language that these instructions are not to be relied upon for filing purposes and are subject to change and to OMB approval before being officially released.
The draft instructions note under the “What’s New” section that the new U.S. tax law (Pub. L. No. 115-97) amended section 163(j) to reflect a limit on the deduction for business interest expense for certain taxpayers in tax years beginning after 2017.
A draft version of Form 8990 [PDF 118 KB] was previously released by the IRS, and reflects a “watermark” date of October 29, 2018.
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