Instructions For Form 8082 (Page 2 of 3) in pdf

Regulations section 301.6241-1T(c)(2)(v)

If a TMP or electing large partnership

adjustment is allowed, the partnership

for the tax year to have the consolidated

files Form 8082 as an AAR on behalf of

must pay tax in an amount equal to that

audit rules apply.

the pass-through entity, the TMP or

excess amount.

electing large partnership must file it with

4. If you are a shareholder in an S

2. It may elect not to pass the

the service center where the original

corporation for a tax year beginning after

adjustment through to current partners by

partnership, S corporation, or REMIC

1996, except as a notice of inconsistent

paying tax on any imputed underpayment

return was filed.

treatment when the shareholder's return

that results from the adjustment, as

is not consistent with the return of the S

If a partner, shareholder, or residual

explained in section 6242(b)(4).

corporation. However, an AAR cannot be

interest holder files Form 8082 as an

In either case, the partnership is liable

filed to adjust subchapter S items.

AAR, it must be filed in duplicate. The

for any interest and penalties on the

Instead, the shareholders must file

original copy is filed with the partner's,

imputed underpayment that results from

amended income tax returns.

shareholder's, or residual interest holder's

the adjustment. See section 6242(b) for

amended income tax return, and the other

details. Interest is figured on the imputed

5. If you are a beneficiary of an estate

copy is filed with the service center where

or domestic trust, or a beneficiary or an

underpayment for the period beginning on

the pass-through entity return is filed.

owner of a foreign trust, except as a

the day after the due date (excluding

notice of inconsistent treatment when the

Generally, you may file an AAR to

extensions) of the partnership return for

beneficiary's or owner's return is not

change items from a pass-through entity

the adjusted year and ending on the due

consistent with the return of the estate or

for any tax year of that entity at any time

date (excluding extensions) of the

trust. However, an AAR cannot be filed to

that is:

partnership return for the tax year the

adjust estate or trust items. Instead, the

adjustment takes effect (or the date the

1. Within 3 years after the later of:

beneficiary or owner must file an

partnership paid the tax due under 2

●

The date on which the pass-through

amended income tax return.

above, if earlier). The adjusted year is

entity return for that year is filed, or

the partnership tax year in which the item

6. If you are a residual interest holder,

●

The last day for filing the pass-through

being adjusted arose.

and all of the following apply:

entity return for that year (excluding

Attach Form 8082 to an amended Form

●

Your REMIC had no more than 10

extensions); and

1065-B for the adjusted year. Enter in the

residual interest holders at any one time

2. Before a notice of final

top margin of the amended return “See

during the tax year.

pass-through entity administrative

attached Form 8082 for AAR per IRC

●

If at any time during the tax year the

adjustment for that year is mailed to the

section 6251.” Be sure to check box G(3)

REMIC had more than one residual

TMP.

on page 1 of the amended return. Identify

interest holder, each residual interest

A partnership return or a REMIC return

in Part II of Form 8082 the amount and

holder was either an individual (other than

is generally due by the 15th day of the 4th

treatment of any item the partnership is

a nonresident alien) or an estate (or for

month following the close of the

changing from the way it was reported on

tax years ending after August 5, 1997, a

partnership's or REMIC's tax year. An S

the original return. If the partnership elects

C corporation).

corporation return is generally due by the

to pay the tax, enter it on line 26 of page

●

The REMIC did not have an election in

15th day of the 3rd month following the

1 of the amended Form 1065-B. Do not

effect under section 6231(a)(1)(B)(ii) for

close of the S corporation's tax year.

enter any other amounts on the amended

the tax year to have the consolidated

Special rules apply if the period of

Form 1065-B. Attach a computation of the

audit rules apply.

limitations has been extended by

tax to Form 8082. The IRS will bill the

7. If you are a partner in an electing

agreement and in the case of an AAR that

partnership for any interest and penalties

large partnership. Partners must report all

relates to the deductibility of bad debts or

it owes.

partnership items consistently with their

worthless securities. See sections 6227

If the income, deductions, credits, or

treatment on the partnership return as

and 6251 for details.

other information provided to any partner

shown on Schedule K-1 (Form 1065-B).

on Schedule K-1 are incorrect under

Judicial Review of an AAR

Only the partnership may file an AAR.

section 704 in the partner's distributive

If the IRS fails to act on an AAR, you may

share of any partnership item shown on

Penalties

file a petition for judicial review with the

Form 1065-B, file an amended Schedule

If you disregard the requirements for filing

United States Tax Court, United States

K-1 (Form 1065-B) for that partner with

Form 8082, you may be subject to the

Court of Federal Claims, or United States

Form 8082. Also give the partner a copy

accuracy-related penalty under section

District Court. You must file the petition

of the amended Schedule K-1.

6662 or the fraud penalty under section

before the date that is 2 years after the

6663. Either penalty is in addition to any

date you filed the AAR, but not until after

Specific Instructions

tax that results from a computational

the date that is 6 months from the date

adjustment to make your amount or

Specific instructions for most of the lines

of such filing. The 2-year period may be

treatment of the item consistent with the

have been provided. Lines that do not

extended if the IRS and you agree in

amount or treatment of the item on the

appear in the instructions are

writing. For more details, see sections

pass-through entity's return.

self-explanatory. If, after reading the

6228 and 6252.

instructions, you are unable to complete

How Many Forms To Complete

Special Rules for Electing Large

an item in Part I or Part II, enter “See Part

Partnerships

III” in the entry space for that item.

You must complete and file a separate

form for each pass-through entity for

Note: If the pass-through entity did not

An electing large partnership may file an

which you are reporting an inconsistent

file a return or give you a Schedule K-1,

AAR to adjust partnership items.

or AAR item. If you are reporting more

Schedule Q, or foreign trust statement by

Generally, the electing large partnership

than four inconsistent or AAR items from

the time you are required to file your

has two choices for handling the

one pass-through entity, use additional

return, complete Parts I and II to the best

adjustment.

Forms 8082.

of your knowledge.

1. It can combine the adjustment with

the same partnership item for the year in

How and When To File

Part I

which the IRS allows the adjustment and

If you file Form 8082 as a notice of

Line 1. Check box (a) if either 1 or 2

pass it through to the current partners for

inconsistent treatment, complete a single

below applies:

that year. However, if the adjustment

copy of the form, attach it to your tax

involves a reduction in a credit which

1. You believe an item was not

return, and file it when you file your

properly reported on the Schedule K-1,

exceeds the amount of that credit for the

original return.

Schedule Q, or foreign trust statement

partnership tax year in which the

you received; or

Page 2

Instructions For Form 8082 Page 2

Related Articles

Related forms

Related Categories