- 8 - affected items that require factual determinations at the partner level. N.C.F. Energy Partners v. Commissioner, supra at 745. Petitioner relies on 3 cases to support his position that an NOL adjustment is an affected item that requires a determination at the partner level: Harris v. Commissioner, 99 T.C. 121 (1992), affd. 16 F.3d 75 (5th Cir. 1994); Maxwell v. Commissioner, 87 T.C. 783 (1986); and Durrett v. Commissioner, T.C. Memo. 1994- 179, affd. in part, revd. in part 71 F.3d 515 (5th Cir. 1996). In contrast, respondent relies on Bob Hamric Chevrolet, Inc. v. United States, 849 F. Supp. 500 (W.D. Tex. 1994), to support her position that an NOL adjustment is properly treated as an affected item subject to computational adjustment. Based on our view of the cases cited by the parties, and in light of the circumstances presented, we agree with respondent that the NOL adjustments in question are properly treated as computational adjustments that may be assessed without the issuance of an affected items notice of deficiency. In Maxwell v. Commissioner, supra at 790-791, we characterized an investment tax credit (ITC) carryback as an affected item on the ground that the existence or amount of the carryback is dependent on or affected by a partnership item; i.e., the amount of the partnership's ITC. Given the procedural posture of that case, however, we were not required to (and did not) decide whether the ITC carryback was an affected item subject to a computational adjustment or an affected itemPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
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