If the partnership properly makes an election for treatment of a specific tax item, the partner is bound by that treatment.

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Once a partnership makes an election for treatment of a specific tax item, all partners are bound by that treatment. This is because the partnership is a tax entity, and each partner's share of the partnership's income, gains, losses, deductions and credits is determined by the partnership's tax treatment of these items. Therefore, if a partner disagrees with the partnership's tax treatment of a specific item, they should address it with the partnership before the election is made.

If the Partnership Properly Makes an Election for Treatment of a Specific