Event Date: April 30, 2025
This 110-minute CPE webinar provided a deep dive into the complexities of Section 751(a) transactions and the recently revised IRS Form 8308. John T. Alfonsi, Managing Director at Cendrowski Corporate Advisors, joined a panel of partnership tax experts to explain the filing requirements, reporting obligations, and tax character implications of selling or exchanging partnership interests when Section 751 “hot assets” are involved.
Section 751(a) addresses situations in which partners realize ordinary income rather than capital gain on the disposition of partnership interests due to the presence of hot assets such as inventory or unrealized receivables. With the IRS’s recent update to Form 8308, partnerships must now meet new reporting deadlines and provide expanded disclosures to both the IRS and the parties involved in a transfer.
John provided real-world insight into how these rules apply in practice, including how to categorize gain or loss under Section 751(a), determine affected partnership interests, and avoid costly penalties. He also walked attendees through the valuation methods necessary for accurate compliance and detailed how Parts I–IV of the updated Form 8308 should be completed.
This webinar was essential for tax professionals advising clients on partnership interest transactions, especially those involving real estate and other asset-heavy industries.
Click here to access the full webinar recording on Strafford’s website and learn how John and his fellow panelists break down the new filing obligations, reporting strategies, and key compliance takeaways related to Section 751(a) and Form 8308.