26 U.S. Code § 6240 - Application of subchapter
prev | next
(a) General rule
This subchapter shall only apply to electing large partnerships and partners in such partnerships.
(b) Coordination with other partnership audit procedures
(1) In general
Subchapter C of this chapter shall not apply to any electing large partnership other than in its capacity as a partner in another partnership which is not an electing large partnership.
(2) Treatment where partner in other partnership
If an electing large partnership is a partner in another partnership which is not an electing large partnership—
(A) subchapter C of this chapter shall apply to items of such electing large partnership which are partnership items with respect to such other partnership, but
(B) any adjustment under such subchapter C shall be taken into account in the manner provided by section 6242.
Source(Added Pub. L. 105–34, title XII, § 1222(a),Aug. 5, 1997, 111 Stat. 1009.)