26 USC 6242: Shareholder's return must be consistent with corporate return or Secretary notified of inconsistency
Text contains those laws in effect on January 4, 1995
From Title 26-INTERNAL REVENUE CODESubtitle F-Procedure and AdministrationCHAPTER 63-ASSESSMENTSubchapter D-Tax Treatment of Subchapter S Items
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§6242. Shareholder's return must be consistent with corporate return or Secretary notified of inconsistency
A shareholder of an S corporation shall, on such shareholder's return, treat a subchapter S item in a manner which is consistent with the treatment of such item on the corporate return unless the shareholder notifies the Secretary (at the time and in the manner prescribed by regulations) of the inconsistency.
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