26 U.S. Code § 773 - Computations at partnership level
All elections affecting the computation of the taxable income of an electing large partnership or the computation of any credit of an electing large partnership shall be made by the partnership; except that the election under section 901, and any election under section 108, shall be made by each partner separately.
In determining the amount allowable under section 170, the limitation of section 170(b)(2) shall apply.
In lieu of applying section 67, 70 percent of the amount of the miscellaneous itemized deductions shall be disallowed.
Pub. L. 114–74, title XI, § 1101(b)(1), (g), Nov. 2, 2015, 129 Stat. 625, 638, provided that, applicable to returns filed for partnership taxable years beginning after Dec. 31, 2017, with certain exceptions, this section is repealed.
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