Form 8308 - Report Of A Sale Or Exchange Of Certain Partnership Interests Form - Department Of The Treasury Internal Revenue Service
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18308
Report of a Sale or Exchange of
Form
Certain Partnership Interests
(Rev. October 2005)
OMB No. 1545-0941
Department of the Treasury
Please print or type.
Internal Revenue Service
Name of partnership
Telephone number
Employer identification number
(
)
Number, street, and room or suite no. If a P.O. box, see instructions.
City or town, state, and ZIP code
Part I
Transferor Information (Beneficial owner of the partnership interest immediately before the transfer of that
interest)
Name
Identifying number
Number and street (including apt. no.)
City or town, state, and ZIP code
Notice to Transferors: The information on this form has been supplied to the Internal Revenue Service. The transferor in a section 751(a)
exchange is required to treat a portion of the gain realized from the exchange as ordinary income. For more details, see Pub. 541, Partnerships.
Statement by Transferor: The transferor in a section 751(a) exchange is required under Regulations section 1.751-1(a)(3) to attach a
statement relating to the sale or exchange to his or her return. See Instructions to Transferors for more details.
Part II
Transferee Information (Beneficial owner of the partnership interest immediately after the transfer of that
interest)
Name
Identifying number
Number and street (including apt. no.)
City or town, state, and ZIP code
Part III
Date of Sale or Exchange of Partnership Interest
/
/
Under penalties of perjury, I declare that I have examined this return, including accompanying attachments, and to the best of my
Sign Here Only if You
knowledge and belief, it is true, correct, and complete.
Are Filing This Form by
Itself and Not With Form
1065 or Form 1065-B
Signature of general partner or limited liability company member
Date
General Instructions
1. The partnership receives written
When To File. Generally, file Form 8308 as
notification of the exchange from the
an attachment to Form 1065 or Form
Section references are to the Internal
transferor that includes the names and
1065-B for the tax year of the partnership
Revenue Code unless otherwise noted.
addresses of both parties to the exchange,
that includes the last day of the calendar
the identifying numbers of the transferor
year in which the section 751(a) exchange
Purpose of Form. Form 8308 is filed by a
and (if known) of the transferee, and the
took place. Form 8308 is due at the time
partnership to report the sale or exchange
date of the exchange; or
for filing the partnership return, including
by a partner of all or part of a partnership
extensions.
interest where any money or other property
2. The partnership has knowledge that
received in exchange for the interest is
there has been a transfer of a partnership
If, however, a partnership is notified of a
attributable to unrealized receivables or
interest and, at the time of the transfer, the
section 751(a) exchange after it has filed
inventory items (that is, where there has
partnership had any unrealized receivables
its partnership return, file Form 8308
been a section 751(a) exchange).
or inventory items.
separately, within 30 days of notification,
with the service center where Form 1065
Who Must File. A partnership must file a
No returns or statements are required
or Form 1065-B was filed.
separate Form 8308 for each section
under section 6050K if the transfer was not
751(a) exchange of an interest in such
a section 751(a) exchange. For example, a
Copies of Form 8308 To Be Furnished to
partnership. See Regulations section
transfer which in its entirety constitutes a
Transferor and Transferee. All
1.6050K-1.
gift for federal income tax purposes is not
partnerships required to file Form 8308
a section 751(a) exchange.
must furnish a copy of the form to each
Note: Form 8308 does not have to be filed
transferor and transferee by January 31 of
if, under section 6045, Form 1099-B,
A partnership may rely on a written
the year following the calendar year in
Proceeds From Broker and Barter
statement from the transferor that the
which the section 751(a) exchange
Exchange Transactions, is required to be
transfer was not a section 751(a) exchange
occurred or, if later, 30 days after the
filed with respect to the sale or exchange.
unless the partnership has knowledge to
partnership has notice of the exchange.
the contrary. If a partnership is in doubt
A partnership must file Form 8308 once
whether partnership property constitutes
If the partnership does not know the
the partnership has notice of the section
unrealized receivables or inventory items or
identity of the beneficial owner of an
751(a) exchange. The partnership has such
whether a transfer constitutes a section
interest in the partnership, the record
notice when either:
751(a) exchange, the partnership may file
holder of the interest is treated as the
Form 8308 to avoid the risk of incurring a
transferor or transferee.
penalty for failure to file.
8308
Cat. No. 62503I
Form
(Rev. 10-2005)
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