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Form 8865-SO: 8865 (Schedule O)
The IRS Form 8865-SO (Schedule O) reports a transfer of property to a foreign partnership under Section 6038B. The form must be attached to Form 8865.
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IRS Form 8865-SO - 8865 (Schedule O)
The IRS Form 8865-SO (Schedule O) reports a transfer of property to a foreign partnership under Section 6038B. The form must be attached to Form 8865.
Risk Radar
Scan points- 1Ensure all transferred assets are correctly categorized and reported in Part I, as required by Section 6038B.
- 2Failing to complete the checks for whether the partnership is a section 721(c) partnership (Section 1a).
- 3Omitting the required foreign partnership EIN when available on the form.
- 4Listing property transfers in Part I without providing the fair market value or cost/basis.
- 5Not reporting subsequent dispositions of property that occurred after the initial transfer, as detailed in Part II.
Plain English
This form is used to report when an individual or business transfers assets, such as stock or equipment, into a foreign partnership. Filing this document helps the IRS track these property transfers and ensures that any resulting gains are reported accurately according to tax law.
Submission Date
- Filing date: 2021-10-04 22:10:26
- 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
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What this form is for
- Use this form when reporting a transfer of property to a foreign partnership under Section 6038B.
- Do not use it when the transfer does not involve property reportable under Section 6038B, or if the transaction is not subject to the rules described in the instructions.
- Check Form 8865 instead when submitting the overall return package for this schedule.
Form selector
Use this form or another form?
If reporting property transferred to a foreign partnership under Section 6038B
This schedule, Schedule O, must be attached to the main Form 8865 for filing purposes
✓ Confirm the revision date reads October 2021 on the document.
If your partnership involves intangible property requiring specific reporting
The form requires confirmation if intangible property is considered a platform contribution defined in Regulations section 1.482-7(c)(1)
✓ Verify the definition of 'platform contribution' using current IRS guidance.
When detailing gains recognized on transfer or disposition
All gain amounts must be accurately reported across both Part I and Part II, depending on the nature of the transaction
✓ Ensure that all listed properties have their associated gain calculated correctly.
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Transferor identification
Name of transferor, Filer’s identifying number · Form header
Partnership details
Name of foreign partnership, EIN (if any) · Form header
Property type reporting
Specific property categories (e.g., Stock, Inventory, Intangible property described in section 197(f)(9)) · Part I
Transfer dates and values
Date of transfer, Fair market value on date of transfer, Cost or other basis · Part I
Tax implications check
Determination regarding section 904(f)(3) or section 904(f)(5)(F) gain recognition · Part III
Before you submit
- 1Confirm that the form is attached to Form 8865.
- 2Enter the Name of transferor, Filer’s identifying number, and details for the foreign partnership in the header section.
- 3Answer the three initial Yes/No questions regarding section 721(c) partnerships and intangible property status.
- 4List all transferred properties under Part I, ensuring all required fields (a through h) are completed for each item.
- 5Calculate and enter the transferor’s percentage interest in the partnership both before and after the transfer in Part I totals.
- 6Complete Part II by detailing any dispositions reportable under Section 6038B.
- 7Determine and answer Yes or No regarding gain recognition under section 904(f)(3) or section 904(f)(5)(F) in Part III.
How to file this form
- 1Identify the transferor’s details, including their name and identifying number, on the form header.
- 2Complete the initial questions regarding the partnership's status (e.g., section 721(c) partnership status).
- 3Detail all properties transferred in Part I by listing the type of property, date of transfer, description, fair market value, and gain recognized on transfer.
- 4Calculate and enter the total percentage interest in the partnership before and after the transfer in Part I totals.
- 5Complete any necessary reporting for dispositions under Section 6038B in Part II.
- 6Answer the final Yes/No question in Part III regarding section 904(f) gain recognition, then sign and date the form.
Known limitations
- 1The form reports transfers of property to a foreign partnership under Section 6038B.
- 2It must be attached to Form 8865.
- 3Part I tracks specific types of assets reportable under Section 6038B, including stock, notes receivable and payable, other securities, inventory, tangible property, intangible property described in section 197(f)(9), and other property.
- 4The form must determine if any transfer reported is subject to gain recognition under section 904(f)(3) or section 904(f)(5)(F).
Field map
Compact field-by-field guide
Entity Info
1 items
Name and taxpayer ID of the entity claiming the credit.
Credit Info
1 items
Type of credit or incentive being claimed.
Calculation
2 items
The base amount used to calculate the credit.
Calculated credit amount after applying formulas and limitations.
Certification
1 items
Detailed breakdown supporting the credit calculation.
Signatures
1 items
Sign and date the form.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition date on file is October 21, and the instructions direct filers to www.irs.gov/Form8865 for the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 10/21.
- Fee — Not stated in the official source.
- Mailing address — Not stated in the official source.
- Signature — A signature is required to complete and submit the form.
Quick Facts
Downloads
After you file
- 1Retain a copy of the completed Schedule O (Form 8865) for your records.
- 2File Form 8865 and Schedule O together; the instructions require them to be submitted as one package.
- 3Keep detailed records supporting all property valuations, especially fair market values on the date of transfer.
- 4Consult www.irs.gov/Form8865 regularly for any updates or changes in filing requirements.
Sources
- SRCForm p.1 — The form reports a transfer of property to a foreign partnership under Section 6038B and must be attached to Form 8865.
- SRCForm p.1 — The filer must provide the name of the foreign partnership, its EIN (if any), and a Reference ID number.
- SRCForm p.1 — Part I tracks transfers reportable under Section 6038B for specific property types including stock, notes receivable and payable, other securities, inventory, tangible property, intangible property described in section 197(f)(9), and other property.
- SRCForm p.1 — The form requires determining if the transferor’s property is subject to gain recognition under section 904(f)(3) or section 904(f)(5)(F).
- SRCForm p.1 — Instructions for Form 8865 provide guidance on filing and accessing the latest information at www.irs.gov/Form8865.
- SRCForm p.1 — The form includes specific instructions regarding whether a partnership is a section 721(c) partnership.
Common confusion points
What specific types of property must be reported in Part I?
Does 'Intangible property' include all non-physical assets, or are there subcategories?
When reporting intangible property, is it necessary to distinguish between those described in section 197(f)(9) and others?
If the partnership is a section 721(c) partnership, must I answer whether gain deferral was applied?
Does Part II (Dispositions) require all assets transferred in Part I to also be reported here?
Is the foreign partnership's EIN required even if it is not applicable?
Workflow map
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Questions about IRS Form 8865-SO
What is IRS Form 8865-SO used for?
This form is used to report when an individual or business transfers assets, such as stock or equipment, into a foreign partnership. Filing this document helps the IRS track these property transfers and ensures that any resulting gains are reported accurately according to tax law.
Who must file IRS Form 8865-SO?
The transferor files IRS Form 8865-SO (Schedule O) when transferring property into a foreign partnership.
What information does IRS Form 8865-SO require?
The form collects identifying information for the transferor and the foreign partnership. It requires detailing initial asset transfers in Part I, followed by reporting any later dispositions of that property in Part II.
How do I complete IRS Form 8865-SO?
The filer must first complete identifying information for both the transferor and the foreign partnership. Part I requires listing all reportable property transfers, including date of transfer and fair market value. Section 2 then documents the transferor’s percentage interest before and after the transaction. Finally, any subsequent dispositions are reported in Part II.
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