Cehgg In general, what is the limitation on the deductibility of business interest expense? What happens to any business interest deduction disallowed under the limitation'

Business interest deduction limitation does not allow net business expenses (business interest expense less business interest income) greater than 30% of the adjustable tax income of the business.

Amounts that fall into this category can be carried for Ward to future tax years for indefinite number of times until it can be applied.

Individuals exempted from business income deduction limitation include real estate and farming businesses. For these businesses they are not automatically exempted, but must elect to be exempted.

Explanation:

The correct answer for this question is this one: "C. Criteria, conclusion, recommendation"

After a bottom line statement, an activity report should include the following topics: Criteria, conclusion, recommendation. It ends the whole paper.
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