Ezel / IRS Rulings / 1033034
Chief Counsel Advice 1033034 Released August 20, 2010 Advice

CCA 1033034: An FPAA could address a partner’s carryforward loss

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This page covers one taxpayer's ruling from 2010, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2010
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It resolved one taxpayer's situation on its specific facts, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel Advice stated that the IRS could issue a final partnership administrative adjustment, or FPAA, for a partnership year to assess a partner’s carryforward loss in a later year. The advice cited Kligfeld v. Commissioner and G-5 Holding v. Commissioner. It also cautioned that the FPAA had to be issued before the statute of limitations expired for the partner’s later year. The partnership, partner, and years are redacted in the public release.

Ruling snapshot

  • Question: Could an FPAA for a partnership year address a partner’s carryforward loss in another year?
  • Outcome: advice given
  • Key authorities: IRC § 6229; Kligfeld v. Commissioner, 128 T.C. No. 16 (2007); G-5 Holding v. Commissioner, 128 T.C. No. 15 (2007)

Full text (IRS public release)

ID: CCA_2010070615225337 Number: 201033034
Release Date: 8/20/2010
Office: ----------
UILC: 6229.00-00

From: -------------------
Sent: Tuesday, July 06, 2010 3:22:55 PM
To: -----------------
Cc: -----------
Subject: RE: TEFRA question

You can issue an FPAA for the partnership's ------- year for the purpose of assessing a partner's
carryforward loss in -------. See Kligfeld v. Commissioner, 128 T.C. No. 16 (2007)and G-5 Holding v.
Commissioner., 128 T.C. No. 15 (2007). You would have to do so before the partner's statute of limitation
expires for his ------- year. Id.

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