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Deductible Business Interest

Taxpayers can generally deduct business interest paid or accrued during the year, subject to limits. The U.S. Congress Joint Committee on Taxation has published a briefing, titled “Overview of Limitation on Deduction of Business Interest,” to clarify changes brought by the Tax Cuts and Jobs Act.
The briefing discusses these topics: definition of terms; carryforward rules; pass-through entities; the effect of the carryforward rule on partnerships; exceptions; and the effective date of the changes. Access it at and then click “download.”

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