JT USA LP v. Comm'r
United States Tax Court
R issued a notice of final partnership administrative adjustment (FPAA) to partnership J and its partners without providing a notice under sec. 6223(a), I.R.C. Ps, partners of J other than the tax matters partner, attempted to elect out of the partnership-level proceeding only in their capacity as indirect partners. Held: Section 6223 allows partners holding different partnership interests in the same partnership to make different elections for each interest.
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R issued a notice of final partnership administrative adjustment (FPAA) to partnership J and its partners without providing a notice under sec. 6223(a), I.R.C. Ps, partners of J other than the tax matters partner, attempted to elect out of the partnership-level proceeding only in their capacity as indirect partners. Held: Section 6223 allows partners holding different partnership interests in the same partnership to make different elections for each interest. Ps' election, otherwise conforming to the requirements of sec. 301.6223(e)-2T(c), Proced. & Admin. Regs., is therefore effective. Held,…
1Opinion of the Court
JT USA LP, JOHN ROSS AND RITA GREGORY, PARTNERS OTHER THAN THE TAX MATTERS PARTNER, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
JT USA LP v. Comm'r
No. 5282-05
United States Tax Court
131 T.C. 59; 2008 U.S. Tax Ct. LEXIS 25; 131 T.C. No. 7;
October 6, 2008, Filed
R issued a notice of final partnership administrative adjustment (FPAA) to partnership J and its partners without providing a notice under sec. 6223(a), I.R.C. Ps, partners of J other than the tax matters partner, attempted to elect out of the partnership-level proceeding only in their capacity as indirect partners.
Held:…
2Cases cited5 opinions
- Kligfeld Holdings v. Comm'rUnited States Tax Court · 2007
- Barbados 6, Ltd. v. CommissionerUnited States Tax Court · 1985
- Ginsburg v. Comm'rUnited States Tax Court · 2006
- Adkison v. Comm'rUnited States Tax Court · 2007
- JT USA LP v. Comm'rUnited States Tax Court · 2008