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Default Formula to long error

Hi, I have a long if formula in excel, but can't finish as I get the error
that the formula is too long. Is there any way to extend the length a
formula can be?

Otherwise I guess the only way around it is to put parts of the formula in
other cells?,

or

As a big part of the formula repeats, as the logic part of the if can you
create a name for a formula and store it as a macro or somewhere else and
refer to it as the name in the if statement to reduce the length ?
 
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