Deductible interest may be limited for tax years beginning January 1, 2018, through December 31, 2019, pursuant to the federal Tax Cuts and Jobs Act of 2017 (TCJA) amendment of I.R.C. § 163(j). However, for tax years beginning on or after January 1, 2020, Tennessee has decoupled from this federal provision, and business interest expense will be deductible as it was prior to the enactment of the TCJA.
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