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- Generating answers for you...IRC Section 163 (j) limits the deduction for BIE for tax years beginning after December 31, 2017, to the sum of (1) the taxpayer's BII, (2) 30% of the taxpayer's ATI, and (3) the taxpayer's floor plan financing interest. BIE is interest that is paid or accrued on indebtedness that is properly allocable to a trade or business.Learn more:IRC Section 163 (j) limits the deduction for BIE for tax years beginning after December 31, 2017, to the sum of (1) the taxpayer's BII, (2) 30% of the taxpayer's ATI, and (3) the taxpayer's floor plan financing interest. BIE is interest that is paid or accrued on indebtedness that is properly allocable to a trade or business.taxnews.ey.com/news/2021-0059The new 163 (j) now limits a taxpayer’s deduction for business interest expense to the sum of: business interest income, 30% of the newly calculated ATI of the taxpayer, and floor plan financing interest (which only applies to dealers of certain self-propelled vehicles and machinery).www.bonadio.com/news-events/articles/the-new-int…The TCJA significantly expanded IRC §163 (j) by limiting the IRC §163 deduction for net business interest expense to 30% of any taxpayer’s adjusted taxable income (ATI), with an exemption for small businesses and an option for real estate and farming businesses to elect out of the limitation.pro.bloombergtax.com/brief/business-interest-expe…
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