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Federal housing law

1224 Form 7217 (PDF)

Federal housing law as enacted — verbatim and citable.

Edition
2026-10-03
Last updated
2026-10-04
Jurisdiction
United States
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Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f7217.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

Form

7217

(December 2024)

Department of the Treasury Internal Revenue Service

Exceptions & meaning →

Partner’s Report of Property Distributed by a Partnership

Attach to your tax return. Go to www.irs.gov/Form7217 for instructions and the latest information.

OMB No. 1545-0123

Attachment Sequence No. 217

Partner’s name Partner’s TIN

Distributing partnership’s name Distributing partnership’s EIN

Date property was distributed to partner

Part I Aggregate Basis of Distributed Property on Distribution Date. File a separate form for each date a partner received distributed property. 1 Was this distribution in complete liquidation of the partner’s interest in the partnership? . . . . . . Yes No 2 Was any part of the distribution treated as a sale or exchange under section 751(b)? . . . . . . . Yes No 3 Partnership’s aggregate basis in distributed property (taking into account any basis adjustments under section 732(d), 734(b), or 743(b)) immediately before the distribution. This line should equal the total of Part II, line B, column (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4 Adjusted basis of the partner’s interest in the partnership immediately before the distribution . . . . $ 5a Cash received in the distribution . . . . . . . . . . . . . . . . $ b Fair market value of marketable securities (as defined in section 731(c)) received in the distribution . . . . . . . . . . . . . . . . . . . . . . $ c Add lines 5a and 5b . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6 Enter the smaller of line 4 or line 5c . . . . . . . . . . . . . . . . . . . . . . . $ 7 Gain recognized. Subtract line 6 from line 5c. If zero, enter -0- and go to line 9 . . . . . . . . . $

9 Partner’s basis in partnership interest reduced by cash received in the distribution. Subtract line 5a from

line 4. If zero or less, enter -0-. See instructions if you recognized gain under section 737 as a result of the distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

10 Aggregate basis to be allocated to the distributed property. For a non-liquidating distribution, enter the smaller of line 3 or line 9. For a liquidating distribution, enter the amount from line 9. Line 10 should equal the total of Part II, line B, column (e) . . . . . . . . . . . . . . . . . . . . . . . $

For Paperwork Reduction Act Notice, see the Instructions for Form 1065. Cat. No. 94479B Form 7217 (12-2024)

Form 7217 (12-2024) Page 2 Part II Allocation of Basis of Distributed Property

(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
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A If applicable, enter any totals from any attached Parts II. See
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B Totals for all items . . . . . . . . . . . . . . . .		 (b) (c) (d) (e)
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
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Partnership’s basis
in distributed
property
immediately before
the distribution
 Check applicable box(es) below. See instructions.




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 Check applicable box(es) below. See instructions.




 Check applicable box(es) below. See instructions.




 Check applicable box(es) below. See instructions.




 Check applicable box(es) below. See instructions.




 FMV of distributed
property
 Partner’s basis in
distributed property
after application of
section 732
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
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Partnership’s basis
in distributed
property
immediately before
the distribution
 (i) 732(d) (i) 732(d) (i) 732(d) (ii) 732(f) (ii) 732(f) (ii) 732(f) (iii) 734(b) (iii) 734(b) (iii) 734(b) (iv) 743(b) (iv) 743(b) (iv) 743(b) (v) Reserved
for future use		 (v) Reserved
for future use		 (v) Reserved
for future use		 (v) Reserved
for future use		 (v) Reserved
for future use
(a)
Description of distributed property
(If applicable, include property
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(a)
Description of distributed property
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Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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(a)
Description of distributed property
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Description of distributed property
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(a)
Description of distributed property
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Description of distributed property
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(a)
Description of distributed property
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Description of distributed property
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Description of distributed property
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Description of distributed property
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Description of distributed property
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Description of distributed property
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Description of distributed property
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A If applicable, enter any totals from any attached Parts II. See
instructions
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
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9
10
11
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13
14
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A If applicable, enter any totals from any attached Parts II. See
instructions
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
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25
26
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28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
.
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
.
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B Totals for all items .
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.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
.
.
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B Totals for all items .
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.
.		 $ $ $
(a)
Description of distributed property
(If applicable, include property
code. See Pub. 946, Appendix B.)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
A If applicable, enter any totals from any attached Parts II. See
instructions
.
.
.
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B Totals for all items .
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.		 $ $ $

Form 7217 (12-2024)

Exceptions & meaning →

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