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George operates a business that in 2020 generated revenues of $50 million and allocable taxable income of $650,000. Included in the computation of allocable taxable
George operates a business that in 2020 generated revenues of $50 million and allocable taxable income of $650,000. Included in the computation of allocable taxable income were $904,500 of business interest expense, $24,500 of business interest income, and $184,500 of depreciation. Assume CARES Act applies. What is the maximum business interest deduction that George will be eligible to claim this year? Multiple Choice $219,250 $161,250 $195,000 5881750
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