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Level 1
May 13, 2021
Question

Form 8990

  • May 13, 2021
  • 1 reply
  • 4 views

When I enter the disallowed prior year interest expense (section 1 line 2) I receive the following error message:

Form 8990: The disallowed business interest expense carryforwards from prior years must be allocated and entered, as applicable, in the Deductions, Farm, Rental Real Estate, Other Rentals, and/or K-1 screens.

Where is this allocation completed in pro connect?  How is it allocated?

 

 

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1 reply

qbteachmt
Level 15
May 13, 2021

You started a duplicate topic here:

https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/form-8990/01/164273/highlight/false#M15891

On the same issue of Form 8990.

Now you have this in Two Places.

Have you read the instructions for Form 8990 from the IRS?

Also, read through the steps described by this Lacerte help article, to understand this gets distributed and allocated as applicable to your conditions:

https://proconnect.intuit.com/community/business-tax-credits-and-deductions/help/generating-form-8990/00/4252

 

 

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