remedial items
(3) Remedial items. The term remedial items means any allocation to a partner of remedial items of income, gain, loss, or deduction pursuant to section 704(c) and 1.704-3(d). (4) Excess business interest income. The term excess business interest income means the amount by which a partnership's or S corporation's business interest income exceeds its business interest expense in a taxable year. (5) Deductible business interest expense. The term deductible business interest expense means the amount of a partnership's or S corporation's business interest expense that is deductible under section 163(j) in the current taxable year following the application of the limitation contained in 1.163(j)-2(b). (6) Section 163(j) excess items. The term section 163(j) excess items means the partnership's excess business interest expense, excess taxable income, and excess business interest income. (7) Non-excepted assets. The term non-excepted assets means assets from a non-excepted trade or business. (8) Excepted assets. The term excepted assets means assets from an excepted trade or business.