IRS Form 8308, Report of a Sale or Exchange of Certain Partnership Interests, is used by a partnership to report the exchange or sale by a partner of a partnership interest.
There are two parties to this report: a transferor and a transferee:
Usually, Form 8308 is an attachment to Form 1065 for the tax year of the partnership that includes the last day of the calendar year in which the exchange took place. Form 1065, U.S. Return of Partnership Income, is used for reporting a tax return for income obtained through a business partnership. It calculates a partnership's profit or loss over a taxable year. If you are representing a large partnership you may also use Form 1065-B, U.S. Return of Income for Electing Large Partnerships.
IRS Form 8308 was released by the Internal Revenue Service (IRS) and the latest version was issued on September 1, 2018. An IRS Form 8308 fillable version is available for download below.
A partnership must file Form 8308 once it has notice of an exchange. It can be received as a written notification from the transferor or having knowledge that there has been a transfer of a partnership interest, and the partnership had unrealized receivables or inventory items at the time of the transfer.
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