View all text of Subpart B [§ 6041 - § 6050Z]
§ 6050K. Returns relating to exchanges of certain partnership interests
(a) In general
Except as provided in regulations prescribed by the Secretary, if there is an exchange described in section 751(a) of any interest in a partnership during any calendar year, such partnership shall make a return for such calendar year stating—
(1) the name and address of the transferee and transferor in such exchange, and
(2) such other information as the Secretary may by regulations prescribe.
Such return shall be made at such time and in such manner as the Secretary may require by regulations.
(b) Statements to be furnished to transferor and transferee
Every partnership required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1) the name, address, and phone number of the information contact of the partnership required to make such return, and
(2) the information required to be shown on the return with respect to such person.
The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) was required to be made.
(c) Requirement that transferor notify partnership
(1) In general
(2) Partnership not required to make return until notice
(Added Pub. L. 98–369, div. A, title I, § 149(a), July 18, 1984, 98 Stat. 689; amended Pub. L. 99–514, title XV, § 1501(c)(13), title XVIII, § 1811(b)(2), Oct. 22, 1986, 100 Stat. 2739, 2833; Pub. L. 104–168, title XII, § 1201(a)(11), July 30, 1996, 110 Stat. 1470.)