Form 8308, Report of a Sale or Exchange of Certain Partnership Interests is completed only if there was a sale or exchange of partnership interest when any money or other property received in exchange for that interest is attributable to unrealized receivables or inventory items (also known as a Section 751(a) exchange).

Section 751(a) Exchange. A section 751(a) exchange occurs when money or any property is exchanged for all or part of a partnership interest that is attributable to unrealized receivables or inventory items. Generally, any sale or exchange of a partnership interest (or any portion) at a time when the partnership has any unrealized receivables or inventory items is a section 751(a) exchange.

To complete Form 8308 in the TaxAct Partnership return:

1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
2. Click Miscellaneous Topics in the Federal Quick Q&A Topics menu to expand, then click Sale or Exchange of Certain Partnership Interests.
3. Click + Add Form 8308 to create a new copy of the form or click Edit to review a form already created.
4. Continue with the interview process to enter all of the appropriate information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.