Section 1.706-5 - Taxable year determination(a)In general. For purposes of § 1.706-4 , the taxable year of a partnership shall be determined without regard to section 706(c)(2)(A) and its regulations.(b)Effective/applicability date. This section applies for partnership taxable years that begin on or after August 3, 2015.T.D. 9728, 80 FR 45883, Aug. 3, 2015