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Determine the amount of business interest expense deduction

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Reference no: EM132591617

Question 1: In each of the following independent cases, determine the amount of business interest expense deduction and disallowed interest expense carryforward, if any.

  1. Company A has ATI of $70,000 and business interest expense of $20,000. Answer = 0
  2. Company B has ATI of $90,000, business interest expense of $35,000, and business interest income of $2,000. Answer = 6,000
  3. Company C has taxable income of $50,000 which includes business interest expense of $60,000 and depreciation of $50,000.

Reference no: EM132591617

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