Discussion:Partership penalty - no transactions
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Discussion Forum Index --> Advanced Tax Questions --> Partership penalty - no transactions
Discussion Forum Index --> Tax Questions --> Partership penalty - no transactions
Taxalmancer (talk|edits) said: | 28 January 2010 |
| If I remember correctly, I read a post by Riley where he said that a partnership is NOT required to file a partnership return in a year it had no item of income, deduction or credit. I have such an instance, and for the life of me, I can not find the thread that had his post. I did find one where he made a general statement but I'm looking for a post where he cited a specific code section or regulation.
I've searched and searched for that thread and it involved someone here who had a client partnership of more than 10 partners and could not meet the 84-35 exception. Riley pulled a rabbit out of the proverbial hat and cited a section that a partnership return was not required to file a tax return, regardless of the number of partners, in a year where there was no income, expense or credits. I'm trying to find his post which contained his citation and would appreciate any help. | |
| 28 January 2010 | |
| Reg. 1.6031(a)-1(a)(3).
Searched on [partnership "filing requirement" riley2] and found Discussion:1065 w/32 ptrs non filing as #7 of the 8 search results, in case you would like to know about both results and process... | |
Taxalmancer (talk|edits) said: | 28 January 2010 |
| That's it. Thanks Trillium! | |
