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Wed 29 Jun, 2011 10:09 pm
a partner disappeared for 10 yrs., received no distributions, had no income, he could receive $150,000 this year. Can he average the income for the 10 years for IRS , or FTB tax ?
@m d green,
I don't know the answer to the specific question, but the limit for filing or amending prior year tax returns is three years. If he can average at all, I suspect it will only be over the past three years.
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