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Form 8308 Report of a Sale or Exchange of Certain Partnership Interests (Rev. February 1994) Department of the Treasury Internal Revenue Service ? OMB No. 1545-0941 Expires 2-28-97 Please print or.

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Related content

About Form 8308, Report of a Sale or Exchange of...
Sep 19, 2020 — Partnerships file Form 8308 to report the sale or exchange by a partner...
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(1) In general. Except as otherwise provided in this paragraph (a), a partnership shall...
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About Form 1065, U.S. Return of Partnership Income | Internal Revenue Service.

Partnerships file Form 8308 to report the sale or exchange by a partner of all or part of a partnership interest where any money or other property received in exchange for the interest is attributable to unrealized receivables or inventory items (that is, where there has been a section 751(a) exchange).

The partners must comply with the agreement. Often there is a clause in the partnership agreement requiring less than a 100% vote to dissolve the partnership. If there isn't such a clause, then all partners, unanimously, at the same time, must agree to dissolve the partnership.

The sale of a partnership interest is generally treated as the sale of a capital asset. As a result, the sale of a partnership interest will generally generate capital gain or loss for the difference between the amount realized on the sale and the partner's adjusted basis in the partnership interest.

A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.

Form 8979 is used to revoke a partnership representative or designated individual, resign as a partnership representative or designated individual, or designate a partnership representative where no partnership representative is in effect.

Form 8979 is used by the partnership to revoke a partnership representative or designated individual, or to designate a partnership representative when no partnership representative is in effect.

A partnership must file Form 1065, U.S. Return of Partnership Income, for the year it ceases operations. It reports capital gains and losses on Schedule D (Form 1065).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232