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Form 1040-NRP: 1040-NR (Schedule P)
Treasury Form 1040-NR (Schedule P) 20/25 is used to report Foreign Partner’s Interests in Certain Partnerships transferred during a tax year for the IRS. It attaches to Form 1040-NR and has an OMB No. of 1545-0074.
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IRS Form 1040-NRP - 1040-NR (Schedule P)
Treasury Form 1040-NR (Schedule P) 20/25 is used to report Foreign Partner’s Interests in Certain Partnerships transferred during a tax year for the IRS. It attaches to Form 1040-NR and has an OMB No. of 1545-0074.
Risk Radar
Scan points- 1Ensure the total number of transfers in Part I matches all schedules; otherwise, the summary is incorrect.
- 2Filing without listing all partnership interests if more than four were transferred in Part I.
- 3Not entering the total number of transfers correctly at the top of Schedule P (Form 1040-NR).
- 4Mismatching proceeds/amount realized between Part I and Part II, Line 1.
- 5Failing to complete lines 1–9 in Part II if the K-3 includes information on lines 1 through 6.
Plain English
This form allows a foreign partner to detail when they bought or sold ownership stakes in certain partnerships. By completing it, the filer reports both the financial details of those transfers and calculates the resulting gain or loss for tax purposes. The information helps the IRS properly account for these partnership investments on the 1040-NR.
Submission Date
- Filing date: 2026-01-06 16:10:39
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when a foreign partner transfers interests in certain partnerships during a tax year.
- Do not use it when you have transferred four or fewer partnership interests, unless those interests are part of a larger filing requiring Schedule P.
- Check Form 1040-NR instead when reporting the initial transfer details on Part I.
Form selector
Use this form or another form?
Reporting total transfers
This form summarizes all transfers reported across its Schedules P, Part I.
✓ Check the bottom of Part I for the total number of transfers.
Reporting gain/loss details
Part II is used to detail the financial outcome of each partnership interest transfer.
✓ Ensure you complete lines 1 through 9 if your K-3 includes information on lines 1 through 6.
Entering proceeds
Line 1 in Part II requires entering the total proceeds/amount realized from a specific partnership interest transfer.
✓ Verify this amount matches the corresponding line on your Schedule K-3 (Form 1065), Part XIII.
Deadline or filing window
The filing trigger is the transfer of partnership interests during the tax year. The deadline follows the standard Form 1040-NR due date (not stated here), and no specific extension details are provided on Schedule P (Form 1040-NR).
Checklist
What you need before filling it out
Part I (Transfer Details)
Name, Identifying Number, Partnership EIN, % interest transferred, Units transferred, Date acquired, Date transferred · Form 1040-NR
Total Transfers Reported (Part I)
Total number of transfers reported on all Schedules P, Part I · Bottom of Part I
Proceeds/Amount Realized (Part II, Line 1)
Proceeds from a single partnership interest transfer · Part II, Line 1
Recognized Effectively Connected Ordinary Gain/Loss (Part II, Line 8)
The smaller of Line 4 or Line 6 amounts · Part II, Line 8
Capital Gain/Loss under Sec 897(g) (Part II, Line 18)
Amount from Schedule K-3 (Form 1065), Part XIII, line 7 · Part II, Line 18
Aggregate Effectively Connected Look-Through Capital Gains (Part II, Line 15)
Sum of Lines 13 and 14 · Part II, Line 15
Before you submit
- 1Ensure the name shown on Form 1040-NR (foreign partner) is correctly entered in both Part I and Part II of Schedule P (Form 1040-NR).
- 2For each partnership interest transferred, complete lines A through F in Part I: Name of partnership, Address, EIN, Percentage interest transferred, Units transferred, Date acquired, and Date transferred.
- 3If more than four partnership interests are reported on Schedule P (Form 1040-NR), continue reporting them on separate Schedules P (Form 1040-NR) as needed.
- 4Enter the total number of transfers of partnership interests reported across all attached Schedules P (Form 1040-NR) onto Part I, before proceeding to Part II.
- 5Calculate and enter the total proceeds/amount realized from all transfers reported on Schedule P (Form 1040-NR), Part II, Line 1.
- 6Complete lines 1–9 in Part II if your Schedule K-3 (Form 1065), Part XIII, includes information on lines 1 through 6 of that schedule.
- 7If the capital gain/loss on line 5 is long term and an amount was reported on Schedule K-3 (Form 1065), Part XIII, line 4 or line 5, complete lines 10–17 in Part II.
How to file this form
- 1Complete all necessary fields in Part I of Schedule P (Form 1040-NR) for every partnership interest transferred.
- 2Fill out the summary section at the bottom of Part I to state the total number of transfers reported across all schedules.
- 3Detail the financial outcome of each transfer in Part II, ensuring lines 1 through 9 are complete if required by your K-3 (Form 1065), Part XIII.
- 4Calculate and enter the final aggregate figures on Part II, such as Line 15 (Aggregate effectively connected look-through capital gains).
- 5Attach the completed Schedule P (Form 1040-NR) to your Form 1040-NR.
- 6Retain a copy of the filed Schedule P (Form 1040-NR) for your records.
Known limitations
- 1The form reports Foreign Partner’s Interests in Certain Partnerships transferred during a tax year.
- 2If more than four partnership interests are transferred, the filer must continue reporting on separate Schedules P (Form 1040-NR) as needed.
- 3Part II requires completion of lines 1–9 if Schedule K-3 (Form 1065), Part XIII includes information on lines 1 through 6.
- 4Part II requires completion of lines 1–3 and line 18 if Schedule K-3 (Form 1065), Part XIII includes information on line 7.
Field map
Compact field-by-field guide
Personal Info
3 items
Enter your legal first and last name as shown on your Social Security card.
Your SSN must match IRS records exactly.
Current mailing address including street, city, state, and ZIP code.
Filing Status
1 items
Select: Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Surviving Spouse.
Income
1 items
Sum of all income sources — wages, interest, dividends, business income, capital gains, unemployment, retirement, and other income.
Adjustments
1 items
Total income minus above-the-line deductions such as IRA contributions, student loan interest, and HSA contributions.
Deductions
1 items
Choose the higher of the standard deduction for your filing status or total itemized deductions from Schedule A.
Tax
1 items
AGI minus deductions. This determines your tax bracket and the amount of tax owed.
Payments
1 items
Sum of federal tax withheld, estimated tax payments, and refundable credits like the Child Tax Credit.
Signatures
1 items
You must sign and date the return. Unsigned returns are invalid.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is 20/25, and the form was created on 4/17/25; instructions direct users to www.irs.gov/Form1040NR for the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision reads 20/25.
- Creation date — confirm the form was created on 4/17/25.
- OMB Number — confirm it is 1545-0074.
- Attachment sequence number — confirm it reads 7D.
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Schedule P (Form 1040-NR) for record keeping.
- 2The form must attach to Form 1040-NR when filing with the IRS.
- 3If reporting multiple transfers, ensure all required Schedules P (Form 1040-NR) are included in the submission.
- 4Check that the total number of transfers reported on all Part I schedules matches the figure entered on the form.
- 5Confirm the revision date reads 20/25.
Sources
- SRCInstructions p.1 — The form attaches to Form 1040-NR.
- SRCInstructions p.1 — OMB No. is 1545-0074.
- SRCInstructions p.1 — If more than four partnership interests are transferred, continue on separate Schedules P (Form 1040-NR) as needed.
- SRCInstructions p.2 — Part II requires completion of lines 1–9 if Schedule K-3 (Form 1065), Part XIII includes information on lines 1 through 6.
- SRCInstructions p.2 — Part II requires completion of lines 1–3 and line 18 if Schedule K-3 (Form 1065), Part XIII includes information on line 7.
- SRCInstructions p.2 — Lines 10–17 are completed only if the capital gain (loss) on line 5 is long term AND an amount was reported on Schedule K-3 (Form 1065), Part XIII, line 4 or line 5.
Common confusion points
What do I enter for 'Total proceeds/amount realized' on Form 1040-NR, Schedule P?
This is the sum of all Part II, Line 1 amounts from all schedules.
→ Ensure this total aligns with the individual line 1 entries across all attached Schedules P (Form 1040-NR).
When do I use lines 1–3 in Part II?
Use them to report the initial financial data for a specific partnership interest transfer.
→ Check if your Schedule K-3 (Form 1065), Part XIII contains information on lines 1 through 6.
How is 'Total outside capital gain (loss)' calculated on Form 1040-NR, Schedule P?
Subtract line 2 (Section 705 outside basis) from line 1 (Proceeds/amount realized).
→ Verify this calculation matches the data provided by your partnership's K-3.
When must I complete lines 10–17 in Part II?
Complete these specific lines only if the capital gain (loss) on line 5 is long term AND an amount was reported on Schedule K-3 (Form 1065), Part XIII, line 4 or line 5.
→ Check the timing of the asset transfer against your partnership's reporting.
What determines 'Recognized effectively connected ordinary gain (loss)'?
It is the smaller value between line 4 (Total outside ordinary gain/loss) and line 6 (Aggregate effectively connected ordinary gain/loss).
→ Confirm which figure is smaller before entering it on line 8 of Schedule P (Form 1040-NR).
How do I determine what goes on Line 9?
Enter the smaller of line 5 (Total outside capital gain/loss) or line 7 (Aggregate effectively connected capital gain/loss).
→ Cross-reference this with the K-3 to ensure you are comparing the correct figures.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- If a specific transfer doesn't fit Part I, it must be reported using separate Schedules P (Form 1040-NR) as needed.
Questions about IRS Form 1040-NRP
What is IRS Form 1040-NRP used for?
This form allows a foreign partner to detail when they bought or sold ownership stakes in certain partnerships. By completing it, the filer reports both the financial details of those transfers and calculates the resulting gain or loss for tax purposes. The information helps the IRS properly account for these partnership investments on the 1040-NR.
Who must file IRS Form 1040-NRP?
The foreign partner shown on Form 1040-NR must file Schedule P (Form 1040-NR).
What information does IRS Form 1040-NRP require?
Part I identifies the specific transfers, collecting data like the partnership's EIN and the date transferred. Part II details the financial outcome of those transfers, such as the proceeds/amount realized from the transfer.
When is IRS Form 1040-NRP due?
The official source does not state a specific filing deadline for Schedule P (Form 1040-NR); it is attached to Form 1040-NR. The form itself is dated 2025.
Where do I file IRS Form 1040-NRP?
The instructions direct filers to go to www.irs.gov/Form1040NR for further guidance on mailing or electronic filing locations. Not stated in the official source regarding a specific service center address.
How do I complete IRS Form 1040-NRP?
First, complete Part I by listing each partnership transfer. If more than four interests are transferred, continue on separate Schedules P (Form 1040-NR) as needed. Next, fill out Part II to calculate the gain or loss for each interest based on figures from Schedule K-3 (Form 1065), and finally, summarize totals at the bottom of Part II.
What do I enter for 'Total proceeds/amount realized' on Form 1040-NR, Schedule P?
This is the sum of all Part II, Line 1 amounts from all schedules. Ensure this total aligns with the individual line 1 entries across all attached Schedules P (Form 1040-NR).
When do I use lines 1–3 in Part II?
Use them to report the initial financial data for a specific partnership interest transfer. Check if your Schedule K-3 (Form 1065), Part XIII contains information on lines 1 through 6.
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