Ezel / IRS Rulings / 201218011

Chief Counsel advice allows a late section 108(i) election by amended return

Number
201218011
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Income From Discharge of Indebtedness
Topics
Income and deductions
Code sections
§ 108
Ruling dated
February 2, 2012
Publicly released
May 4, 2012
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2012, 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 2012
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 is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, 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 addressed whether a partnership could make a section 108(i) election on an amended return. The response said the election could be filed with an amended return if the amended return was filed within 12 months of the extended due date for the return on which the election should have been made. It noted that the specific date depends on the partnership’s tax year and return due date.

Ruling snapshot

  • Question: Could the partnership make the section 108(i) election on an amended return?
  • Outcome: advice given
  • Key authorities: IRC § 108(i)

Full text (IRS public release)

ID: CCA-041112-12 Number: 201218011
Release Date: 5/4/2012
Office: ----------------
UILC: 108.00-00

From:-----------------
Sent: Thursday, February 2, 2012 1:53 PM
To:-----------------------
Cc:
Subject: Re: Rev Proc 2009-37

Hi --------------

It appears that the section 108(i) election can be filed with an amended return as long as the amended return is filed within 12-months of the extended due date for the return on which the election should have been made. The specific date depends upon the partnership’s tax year (i.e., when the partnership return is due). Does that answer your question?

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