1065 Schedule B-2

[rootsmusic]

Please recommend explainers about why a small partnership (with eligible partners) should or shouldn't elect this schedule.  Thanks.

[M-MTax]

Wow, you could try doing some research on your own like a basic search. https://www.law.cornell.edu/cfr/text/26/301.6221(b)-1

https://www.thetaxadviser.com/issues/2018/jul/irs-final-regs-electing-out-centralized-partner[produc...

https://www.thetaxadviser.com/issues/2021/feb/centralized-partner[product key removed]e-related-item...

[rootsmusic]

(@M-MTax, I did search on this forum.  I found questions about instructions to fill out the Schedule, but I want to understand the consequences of electing this Schedule.   Hence, I'm requesting explainers for a partnership that hasn't undergone a tax audit.)

I'm using TurboTax because I don't understand tax law.  So law statutes aren't helpful.  By the way, your other links don't work.