James Lindsey and Lynne Lindsey - Page 4




                                         -4-                                          
               As will be shown in the discussion that follows, petitioners           
          have raised no genuine issue as to any material fact.                       
          Accordingly, we conclude that this case is ripe for summary                 
          judgment.                                                                   
          B.   Petitioners Are Precluded From Litigating the Deficiency               
               Petitioners allege in their petition that respondent erred             
          in attributing to them income received from RPT PRN LLC.  We                
          reject petitioners’ allegation as we lack jurisdiction over the             
          deficiency in their income tax attributable to their                        
          distributable share of income from RPT PRN LLC.  Petitioners had            
          an opportunity to raise their allegation during the TEFRA                   
          procedures,1 but they failed to do so.                                      
               The TEFRA procedures provide a method for adjusting                    
          “partnership items” in a single unified partnership proceeding,             
          rather than in multiple separate actions, each involving a single           
          partner.  Maxwell v. Commissioner, 87 T.C. 783, 787 (1986).                 
               In general, the Commissioner is precluded from assessing a             
          deficiency in income tax attributable to a partnership item, or             
          any penalty, addition to tax, or additional amount which relates            
          to the partnership item, until after the completion of the                  



               1 The unified audit and litigation procedures were enacted             
          as part of the Tax Equity and Fiscal Responsibility Act of 1982             
          (TEFRA), Pub. L. 97-248, sec. 401(a), 96 Stat. 648, and are                 
          commonly referred to as the TEFRA procedures.                               






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