SECTION 3. AMENDED RETURN

OPTION PROVIDED TO ELIGIBLE BBA PARTNERSHIPS FOR THE 2018, 2019, AND 2020 TAXABLE YEARS

.01 Scope . The filing and furnishing option provided by section 3.02 of this

revenue procedure applies to BBA partnerships described in section 3.03 of this revenue procedure for the taxable years described in section 3.04 of this revenue procedure.

.02 Option to file amended return . BBA partnerships that filed a Form 1065 and furnished all required Schedules K-1 for the taxable years beginning in 2018, 2019, or 2020 and did so prior to the issuance of this revenue procedure may file amended partnership returns and furnish corresponding Schedules K-1 on or before October 15, 2021. The amended returns must take into account tax changes under section 202 of the TCDTRA, but eligible BBA partnerships under section 3.03 of this revenue procedure may make any changes on their amended returns.

.03 Eligible BBA partnerships . (1) The filing and furnishing option provided in section 3.02 of this revenue procedure is available only to BBA partnerships that filed Forms 1065 and furnished Schedules K-1 for the partnership taxable years beginning in 2018, 2019, or 2020 and did so prior to the issuance of this revenue procedure. The filing and furnishing option in section 3.02 of the revenue procedure is only available to:

(a) BBA partnerships within the scope of section 3 of Rev. Proc. 2021-28 that have residential rental property within the scope of section 3 of Rev. Proc. 2021-28 and that choose to change either or both of their method of depreciation or general asset account treatment for such property by filing an amended Form 1065 in accordance with procedures in sections 4.01(2), 4.02(3), or 4.04(1) of Rev. Proc. 2021-28 as applicable, or

(b) BBA partnerships within the scope of section 3.01(1) of Revenue Procedure 2020-22, 2020-18 I.R.B. 745, that choose to make a late section 163(j)(7) election by filing an amended Form 1065 in accordance with procedures in section 4 of Rev. Proc. 2020-22.

(2) For purposes of section 6222, the amended return replaces any prior return (including any AAR filed by the partnership) for the taxable year for purposes of determining the partnership’s treatment of partnership-related items. See section 4.03 of this revenue procedure for a special rule regarding partnerships who have

previously filed AARs for an affected taxable year.

.04 Eligible taxable years . The filing and furnishing option provided in this revenue procedure applies only to partnership taxable years that began in 2018, 2019, or 2020.