A partner shall, on the partner’s return, treat a partnership item in a manner which is consistent with the treatment of such partnership item on the partnership return.
(b) Notification of inconsistent treatment
(1) In general
In the case of any partnership item, if—
(i)the partnership has filed a return but the partner’s treatment on his return is (or may be) inconsistent with the treatment of the item on the partnership return, or
(ii)the partnership has not filed a return, and
(B)the partner files with the Secretary a statement identifying the inconsistency,
subsection (a) shall not apply to such item.
(2) Partner receiving incorrect information
A partner shall be treated as having complied with subparagraph (B) of paragraph (1) with respect to a partnership item if the partner—
(A)demonstrates to the satisfaction of the Secretary that the treatment of the partnership item on the partner’s return is consistent with the treatment of the item on the schedule furnished to the partner by the partnership, and
(B)elects to have this paragraph apply with respect to that item.
(c) Effect of failure to notify
In any case—
(1)described in paragraph (1)(A)(i) of subsection (b), and
(2)in which the partner does not comply with paragraph (1)(B) of subsection (b),
6225 shall not apply to any part of a deficiency attributable to any computational adjustment required to make the treatment of the items by such partner consistent with the treatment of the items on the partnership return.
(d) Addition to tax for failure to comply with section
For addition to tax in the case of a partner’s disregard of requirements of this section, see part II of subchapter A of chapter 68.
1986—Subsec. (d). Pub. L. 99–514struck out “intentional or negligent” after “case of a partner’s”.
Effective Date of 1989 Amendment
Amendment by Pub. L. 101–239applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1989, see section 7721(d) ofPub. L. 101–239, set out as a note under section
461 of this title.
Effective Date of 1986 Amendment
Amendment by Pub. L. 99–514applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1503(e) ofPub. L. 99–514, set out as a note under section
6653 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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