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IRSOther IRS Forms (7000–9999)

Official form guide

Form 7217: Partner's Report of Property Distributed by a Partnership

IRS Form 7217 is the Partner’s Report of Property Distributed by a Partnership; it reports the basis of property received in non‑liquidating or liquidating distributions. Partners must file a separate form for each distribution date, due with the tax return (including extensions).

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Form Overview

IRS Form 7217 - Partner's Report of Property Distributed by a Partnership

IRS Form 7217 is the Partner’s Report of Property Distributed by a Partnership; it reports the basis of property received in non‑liquidating or liquidating distributions. Partners must file a separate form for each distribution date, due with the tax return (including extensions).

The form collects the partner’s name, TIN, partnership name and EIN, the distribution date, the partnership’s basis in the property, the partner’s outside basis, and the allocated basis for each property (Part I and Part II).

Risk Radar

Scan points
  • 1Failing to file a separate Form 7217 for each distribution date.
  • 2Omitting a separate Form 7217 for each distribution date received during the tax year.
  • 3Filing Form 7217 when the distribution consisted only of cash or marketable securities treated as cash.
  • 4Not checking the liquidation box on line 1 when the distribution fully liquidates the partnership interest.
  • 5Entering a partnership basis on line 3 that does not match Schedule K‑1 box 19 code C amount.

Plain English

If you are a partner and get property from a partnership, you use this form to tell the IRS the tax basis of that property. It must be attached to the tax return for the year you received the property. The form reports both the partnership’s basis and your adjusted basis. Only property distributions (not cash) require filing.

Submission Date

  • Filing date: 2025-01-08 22:10:38
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

distribution date

Hover a term to preview the meaning.

What this form is for

  • Use this form when a partner receives a distribution of property subject to IRC section 732 in a non‑liquidating or liquidating distribution.
  • Do not use it when the distribution consists solely of cash or marketable securities treated as cash, or when the payment is for services or a disguised sale under the cited sections.
  • Check Form 1065 (Schedule K‑1) instead when you need the partnership’s basis information for the distributed property.

Form selector

Use this form or another form?

You need the partnership’s aggregate basis in the distributed property

Basis is reported on Schedule K‑1, box 19, code C, which you use to complete Form 7217

✓ Confirm Schedule K‑1 includes box 19, code C before proceeding

Form 1065

A portion of the distribution is treated as a sale or exchange under section 751(b)

Section 751(b) calculations are attached to Form 7217 using data from Schedule K‑1

✓ Verify Schedule K‑1 reflects any section 751(b) items before attaching

Form 1065

You are preparing your annual tax return and must attach Form 7217

Schedule K‑1 provides the necessary basis details for the attachment

✓ Ensure Schedule K‑1 is complete and matches Form 7217 entries

Form 1065

Deadline or filing window

The filing requirement is triggered when a partner receives property subject to section 732. The form must be filed with the tax return for that year, and the deadline is the same as the return’s due date, including any extensions. No separate deadline is given.

Checklist

What you need before filling it out

1

Partner’s name and TIN

Partner’s personal identification · Top of Form 7217

⚠ Leaving it blank or mismatching TIN✕ Low
2

Distributing partnership’s name and EIN

Partnership’s identification · Top of Form 7217

⚠ Incorrect EIN format✕ Medium
3

Date of distribution

Distribution date · Date line on Form 7217

⚠ Using wrong year✕ High
4

Line 3 – partnership’s aggregate basis

Basis amount from Schedule K‑1, box 19, code C · Schedule K‑1 (Form 1065)

⚠ Entering cash amount instead of basis✕ High
5

Part II – description of distributed property

Property description and asset class code · Part II columns (a)–(e)

⚠ Omitting asset class code✕ Medium

Before you submit

  1. 1Verify partner’s name and TIN are entered correctly
  2. 2Confirm partnership’s name and EIN are entered correctly
  3. 3Check that the distribution date matches the date on Schedule K‑1
  4. 4Mark the liquidation box appropriately on line 1
  5. 5Mark the section 751(b) box appropriately on line 2
  6. 6Enter the partnership’s aggregate basis from Schedule K‑1 on line 3
  7. 7Enter the partner’s outside basis on line 4
  8. 8Attach any required section 751(b) statement if applicable
  9. 9Complete Part II for each property with description and basis
  10. 10Sign the form in the designated signature area
  11. 11Attach Form 7217 to the tax return before filing

How to file this form

  1. 1Gather Schedule K‑1 (Form 1065) and any section 751(b) statements
  2. 2Enter partner and partnership identification details on the top of Form 7217
  3. 3Complete Part I lines 1–4 using information from Schedule K‑1
  4. 4Fill out Part II for each distributed property, including description and basis
  5. 5Attach any required statements and verify all boxes are checked
  6. 6Sign and date the form
  7. 7Attach Form 7217 to the annual tax return and file the return
  8. 8Retain a copy of the completed Form 7217 for your records

Known limitations

  1. 1Do not file if the distribution consisted only of money or marketable securities treated as money under section 731(c).
  2. 2Do not file for payments for services other than in your capacity as a partner under section 707(a)(1).
  3. 3Do not file for transfers treated as disguised sales under section 707(a)(2)(B).

Field map

Compact field-by-field guide

6 fields

General Info

2 items

Taxpayer Name and TIN

Full legal name and taxpayer identification number (SSN or EIN).

Requiredtext
Address

Current mailing address.

Requiredtext

Details

2 items

Required Information

Complete all applicable sections of this form according to the official IRS instructions.

Requiredtext
Amount (if applicable)

Enter the relevant dollar amount if this form involves tax calculation.

amount

Certification

1 items

Certification Statement

Read and acknowledge any certifications required by this form.

Requiredcheckbox

Signatures

1 items

Signature

Sign and date. Unsigned forms cannot be processed.

Requiredsignature
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Current form status
IRS

The form shows a December 2024 revision; the instructions direct users to IRS.gov/Form7217 for the latest information, and no specific changes are noted in the source.

What changed or needs a fresh check

  • Edition date — confirm the form shows December 2024 revision
  • Fee — Not stated in the official source
  • Mailing address — Not stated in the official source
  • Signature — Not stated in the official source

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Quick Facts

Any partner who receives a distribution of property subject to IRC section 732, whether in a non‑liquidating or liquidating distribution, must file Form 7217.
The form collects the partner’s name, TIN, partnership name and EIN, the distribution date, the partnership’s basis in the property, the partner’s outside basis, and the allocated basis for each property (Part I and Part II).
Form 7217 is due when your tax return is due, including any extensions.
Attach Form 7217 to your annual tax return; no separate mailing address is provided.
Not stated in the official source
Enter your name, TIN, partnership name, EIN and distribution date in the General Information area. Check the box on line 1 if the distribution liquidated your interest and the box on line 2 if any part is treated as a sale. Fill line 3 with the partnership’s aggregate basis, line 4 with your outside basis, and line 10 with the smaller of line 3 or line 9 (or line 9 for a liquidating distribution). Complete Part II for each distributed property, listing description, partnership basis, FMV, and your basis after section 732, then attach the form to your return.

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After you file

  1. 1Attach Form 7217 to the tax return for the tax year in which the property was received.
  2. 2Ensure Form 7217 is filed by the tax return due date, including any extensions.
  3. 3Use the December 2024 version of Form 7217 for tax years beginning in 2024 or later.
  4. 4Confirm the amount entered on line 3 equals the total amount of Part II, line B, column (b).

Sources

  • SRCInstructions p.1 — Form 7217 is filed by any partner receiving a distribution of property from a partnership in a non‑liquidating or liquidating distribution.
  • SRCInstructions p.1 — Do not file Form 7217 if the distribution consisted only of money or marketable securities treated as money under section 731(c).
  • SRCInstructions p.1 — Do not file Form 7217 for payments to you for services other than in your capacity as a partner under section 707(a)(1).
  • SRCInstructions p.1 — Do not file Form 7217 for transfers that are treated as disguised sales under section 707(a)(2)(B).
  • SRCInstructions p.1 — File Form 7217 by attaching it to your tax return for the tax year in which you received distributed property subject to section 732.
  • SRCInstructions p.1 — Form 7217 is due at the time your tax return is due, including any extensions.
  • SRCInstructions p.1 — Use the December 2024 version of Form 7217 for tax years beginning in 2024 or later, until a later revision is issued.
  • SRCInstructions p.1 — The amount entered on line 3 should equal the total amount of Part II, line B, column (b).
  • SRCInstructions p.1 — Enter your name, tax identification number (TIN), the partnership’s name, EIN, and the date of distribution on the appropriate lines.
  • SRCInstructions p.2 — Generally, your basis in distributed property equals the partnership’s adjusted basis in the property immediately before the distribution.

Common confusion points

Do I need to file Form 7217 for a cash‑only distribution?

I think any distribution requires reporting.

→ Verify the distribution includes only money or marketable securities treated as money under section 731(c); if so, no filing is required.

Do I need a separate Form 7217 for each property I received on the same day?

I assume each property triggers its own form.

→ Check the receipt dates; a separate form is required only for each distinct distribution date, not for each property received on the same date.

Do service payments to me as a partner require Form 7217?

I’m unsure if service fees count as a partnership distribution.

→ Determine whether the payment is for services outside your partner capacity under section 707(a)(1); if it is, Form 7217 is not required.

Is a transaction that is a disguised sale subject to Form 7217?

I think all property transfers need reporting.

→ Identify if the transfer is treated as a disguised sale under section 707(a)(2)(B); if it is, Form 7217 is not filed.

Do marketable securities count as cash for line 3 reporting?

I’m confused whether securities are included in the basis calculation.

→ Verify whether the securities are treated as money under section 731(c); if they are, they are excluded from line 3, otherwise include their basis.

What should I enter on line 4 for my outside basis?

I’m not sure whether to add recognized gain.

→ Calculate your partnership interest’s adjusted basis immediately before the distribution and exclude any gain recognized under section 737.

Workflow map

Related forms and next steps

4 signals

Before

Form 1065 – partnership return that generates Schedule K‑1 (Form 1065).Section 732(d) statement attached to Schedule K‑1 (Form 1065) – may supply additional basis adjustments needed for Form 7217.

Current

7217

After

None listed

Often used with

Schedule K‑1 (Form 1065) – provides the partnership’s aggregate basis in the distributed property (box 19, code C) or a section 732(d) statement.Form 7217 – partner’s report of property distributed, attached to the individual tax return.

Questions about IRS Form 7217

What is IRS Form 7217 used for?

If you are a partner and get property from a partnership, you use this form to tell the IRS the tax basis of that property. It must be attached to the tax return for the year you received the property. The form reports both the partnership’s basis and your adjusted basis. Only property distributions (not cash) require filing.

Who must file IRS Form 7217?

Any partner who receives a distribution of property subject to IRC section 732, whether in a non‑liquidating or liquidating distribution, must file Form 7217.

What information does IRS Form 7217 require?

The form collects the partner’s name, TIN, partnership name and EIN, the distribution date, the partnership’s basis in the property, the partner’s outside basis, and the allocated basis for each property (Part I and Part II).

When is IRS Form 7217 due?

Form 7217 is due when your tax return is due, including any extensions.

Where do I file IRS Form 7217?

Attach Form 7217 to your annual tax return; no separate mailing address is provided.

How do I complete IRS Form 7217?

Enter your name, TIN, partnership name, EIN and distribution date in the General Information area. Check the box on line 1 if the distribution liquidated your interest and the box on line 2 if any part is treated as a sale. Fill line 3 with the partnership’s aggregate basis, line 4 with your outside basis, and line 10 with the smaller of line 3 or line 9 (or line 9 for a liquidating distribution). Complete Part II for each distributed property, listing description, partnership basis, FMV, and your basis after section 732, then attach the form to your return.

Do I need to file Form 7217 for a cash‑only distribution?

I think any distribution requires reporting. Verify the distribution includes only money or marketable securities treated as money under section 731(c); if so, no filing is required.

Do I need a separate Form 7217 for each property I received on the same day?

I assume each property triggers its own form. Check the receipt dates; a separate form is required only for each distinct distribution date, not for each property received on the same date.

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