TAX2406. BBA Correcting Partnership Returns

This session will highlight the requirements for correcting a partnership return via an administrative adjustment request (AAR). Issues that will be addressed include the scope of “partnership-related items,” the effect of positive and negative adjustments, the mechanics of the push-out election, and certain key considerations for pass-through partners.

Learning Objectives:

• Identify the scope of the items reported on a partnership return that require an AAR to correct.
• Recognize the effect of adjustments arising from an AAR to the partnership and its reviewed year partners.