2024年6月24日 · Form 8986 is used by the audited partnership to push out imputed underpayments to its partners. Form 8986 can also be used to track the flow-through of changes due to an administrative adjustment request (AAR) filed by the partnership.

Form 8986 was created for partnerships to show each partner’s share of adjustments to partnership-related items as a result of a BBA audit or BBA administrative adjustment request (AAR).

2021年4月8日 · The BBA rules are very complex, and the rules for recipients of Form 8986 are no exception. Here is a high-level overview of when a Form 8986 is used and what actions are required when the form is received.

Form 8986 was created for partnerships to show each partner’s share of adjustments to partnership-related items as a result of a BBA audit or BBA administrative adjustment request (AAR). Form 8986 is used by BBA partnerships to furnish and transmit each partner’s share of adjustments to partnership-related items.

2023年2月26日 · TurboTax does not support this form, unfortunately. Form 8986 was created for partnerships to show each partner’s share of adjustments to partnership-related items as a result of a BBA audit or BBA administrative adjustment request (AAR)

2024年1月11日 · Increased numbers of partnership audits and more partnerships filing administrative adjustment requests (AARs) means more taxpayers will receive Form 8986. Taxpayers that receive Form 8986 need to take the adjustments into account in …

2020年6月1日 · Partnerships needing to modify a previously filed Form 1065, U.S. Return of Partnership Income, must be mindful of the changes brought about by the Bipartisan Budget Act (BBA) of 2015, 1 which created a new centralized partnership audit regime.

2025年1月27日 · Form 8986 is used in specific situations where traditional amended K-1s may not suffice, ensuring compliance with IRS requirements. Form 8986 is necessary under the Bipartisan Budget Act of 2015 (BBA) centralized partnership audit regime.

We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise, or legislation is passed—in this case, we will post a new draft of the form to alert users that changes were made to the previously posted draft.

2020年1月1日 · Specifically, three new draft forms have been released: Form 8986, Partner's Share of Adjustment (s) to Partnership-Related Item (s). The draft forms are subject to revision before finalization. Instructions to the forms are not yet available.