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Part II—Amended or

15a through 15e. If any of the credits are

Line 6. Show any increase or decrease to

attributable to rental activities, enter them

Administrative Adjustment

the ELP's tax or other payments.

on line 15d or line 15e, as appropriate. For

Request (AAR) Items for

Line 10. Enter total tax as follows.

more information on the types of credits

ELPs, REMICs, and BBA

listed, see Line 15f. Other Credits in the

ELPs. Enter the line 6 amounts on

Instructions for Form 1065 for the tax year

Only

line 10.

being amended or otherwise adjusted.

REMICs. Add the amounts on lines 7

In Part III, identify the different types

ELPs only. An ELP may file an AAR to

through 9 and enter the total for each

and amounts of credits reported on this

adjust its partnership items. Generally, the

column on line 10.

line. If any of the credits are subject to

ELP has two choices for handling the

recapture, include in Part III the credit

adjustment.

Line 11. Enter the amount of tax

recapture information.

deposited with Form 7004, Application for

1. It may combine the adjustment with

Automatic Extension of Time To File

the same partnership item for the year in

Line 16m. Use line 16m to show

Certain Business Income Tax, Information,

which the IRS allows the adjustment and

amendments to total reduction in taxes

and Other Returns.

pass it through to the current partners for

available for credit. For more information

that year. However, if the adjustment

about the reduction in taxes that are

Line 14. Enter the amount from the

involves the reduction in a credit which

reported, see Line 16m. Reduction in

“Overpayment” line of the original return,

exceeds the amount of that credit for the

Taxes Available for Credit (Code N) in the

even if the ELP or REMIC chose to credit

partnership tax year in which the

Instructions for Form 1065 for the tax year

all or part of this amount to the next year's

adjustment is allowed, the partnership

being amended or otherwise adjusted.

estimated tax. This amount must be

must pay tax in an amount equal to the

considered in preparing Form 1065X

In Part III, identify the different types

excess amount.

because any refund due from the original

and amounts of reductions reported on

2. It may elect not to pass the

return will be refunded separately from

this line.

adjustment through to current partners by

any additional refund claimed on Form

Line 16n. Use Part III to report

paying tax on any imputed underpayment

1065X. If the original return was changed

amendments to other foreign tax

that results from the adjustment. If the

by the IRS and the result was an

information. For more information about

partnership elects to pay the tax, enter it

additional overpayment of tax, also

the other foreign tax information

on Part II, line 16. Attach a computation of

include that amount on line 14.

associated with this line, see Line 16n.

the tax to Form 1065X.

Line 16. If the ELP or REMIC does not

Other Foreign Tax Information in the

use electronic fund transfers, including the

In either case, the partnership is liable

Instructions for Form 1065 for the tax year

Electronic Federal Tax Payment System

being amended or otherwise adjusted.

for any interest and penalties on imputed

(EFTPS), enclose a check with this form.

underpayments that result from the

Line 17f. Use line 17f to show

Make the check payable to “United States

adjustment. See section 6242(b) for

amendments to other alternative minimum

Treasury.”

details. Interest is figured on the imputed

tax (AMT) items that are not shown on

underpayment for the period beginning on

Line 17. If the ELP or REMIC is entitled to

lines 17a through 17e. For more

the day after the due date (excluding

a refund larger than the amount claimed

information about the other AMT items

extensions) of the partnership return for

on the original return, line 17 will show

associated with this line, see Line 17f.

the tax year the adjustment takes effect,

only the additional amount of

Other AMT Items in the Instructions for

or, if earlier, the date the partnership paid

overpayment. This additional amount will

Form 1065 for the tax year being

the tax due under (2) above. The adjusted

be refunded separately from the amount

amended or otherwise adjusted.

year is the partnership tax year in which

claimed on the original return. The IRS will

In Part III, identify the different types

the item being adjusted arose.

figure any interest due and include it in the

and amounts of other AMT items reported

refund.

ELPs and REMICs. Identify in Part II of

on this line.

Form 1065X the amount and treatment of

Amended Schedules K-1 or

Line 20c. Use Part III to report

any item the partnership or REMIC is

Schedules Q

amendments to other items and amounts.

changing from the way it was reported on

For more information on other items and

the original return.

If the ELP or REMIC is filing Form 1065X

amounts associated with this line, see

for an AAR, do not furnish the amended

Column (a). Enter a description of the

Line 20c. Other Items and Amounts in the

Schedules K-1 or Schedules Q to the

item that the partnership or REMIC is

Instructions for Form 1065 for the tax year

partners or residual interest holders. If the

adjusting or amending.

being amended or otherwise adjusted.

REMIC is not filing for an AAR and is not

Column (b). Enter the amounts from the

subject to the rules for consolidated audit

Amended Schedules K-1

ELP's or REMIC's return as originally filed

proceedings under sections 6221 through

File amended Schedules K-1 with Form

or as it was later adjusted. If the return

6231, the REMIC must furnish the

1065X and furnish copies of the amended

was changed or audited by the IRS, enter

amended Schedules Q to its residual

Schedules K-1 to the partners. If the

the amounts as adjusted.

interest holders.

partnership is filing Form 1065X for an

Column (c). Enter the net increase or net

AAR With Election into the

AAR, inform the partners receiving the

decrease for each line being changed.

amended Schedules K-1 that the

Centralized Partnership Audit

Use parentheses around all amounts that

partnership is filing the AAR. If the

Regime Under BBA

are decreases. Explain the increase or

partnership is not subject to the rules for

decrease in Part III.

Partnerships filing an AAR with an election

consolidated audit proceedings (TEFRA

into the centralized partnership audit

proceedings) under sections 6221 through

Column (d). Add the increase in column

regime under BBA will need to determine

6234, it must furnish the amended

if the partnership's adjustment as defined

Schedules K-1 to its partners. The

the column (c) decrease from column (b).

by section 6241(2) (as amended by BBA)

partners must then file their own amended

Enter the result in column (d).

results in an imputed underpayment as

returns.

described in section 6225(b) (as amended

Instructions for Form 1065X

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Instructions For Form 1065x - Amended Return Or Administrative Adjustment Request (Aar) - 2018 Page 5

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