8838-P

Consent To Extend the Time To Assess Tax Pursuant to the Gain Deferral Method (Section 721(c))

Agency
IRS
Revision
Rev. October 2021
Fillable fields
27
Pages
3
Official source
IRS form page
Checked
October 21, 2026
Fill 8838-P online
Page 1 of form 8838-P

Form 8838-P: Consent To Extend the Time To Assess Tax (Section 721(c))

Form 8838-P is an agreement between the consenting taxpayer and the Commissioner of the IRS that extends the period for assessing tax on certain contributions of property to a partnership under section 721(c). The instructions on the form say it is used to apply the gain deferral method described in Regulations section 1.721(c)-3, for a gain deferral contribution and for certain later contributions of section 721(c) property to a section 721(c) partnership.

The filer is a U.S. transferor, which the instructions say includes a citizen or resident of the United States, a domestic corporation, and any estate or trust other than a foreign estate or trust. The form is attached to the U.S. transferor's income tax return. Its instructions are printed on page 2 of the PDF, and the form points to www.irs.gov/Form8865 for the latest information.

You can fill out Form 8838-P free in your browser on this page and download the result without an account.

What's on Form 8838-P

Taxpayer information

Name(s) of the consenting taxpayer(s), identifying number, the spouse's social security number only if a joint return was filed, and the address.

Line 1a: gain deferral contributions

Tax year and assessment dates for tax on the gain realized but not recognized on the contribution, and for tax from the allocation of book and tax items for the section 721(c) property.

Line 1b: other contributions

Tax year and assessment date for tax on gain recognized on a contribution not subject to the gain deferral method.

Lines 2 to 4: terms

How the extended period works with suspensions such as section 6503(a), a claim for credit or refund within 6 months after the period ends, and the limit on any deficiency assessment.

Line 5: the contribution

Date of contribution, description of the section 721(c) property, and the name and identifying number, if any, of the section 721(c) partnership.

Signatures

Lines for the consenting taxpayer, a spouse on a joint return, the taxpayer's representative and corporate officers, each with a date.

How to fill out Form 8838-P

  1. 1

    Name and identifying number

    Enter the name(s) and identifying number. The instructions say an individual uses the social security number and all other taxpayers use the employer identification number. Add the spouse's SSN only for a joint return.

  2. 2

    Address

    Include the suite, room or other unit number after the street address. Show a P.O. box only if the Post Office doesn't deliver mail to the street address.

  3. 3

    Line 1a

    Enter the tax year and dates. The instructions describe an extension through the date 96 months after the close of the tax year that includes the contribution date, and for the next two years through the date 72 months after the close of such tax year.

  4. 4

    Line 1b

    For a contribution with recognized gain made within five partnership tax years after the year of a gain deferral contribution, the instructions describe an extension through the date 60 months after the close of the tax year that includes the contribution date.

  5. 5

    Line 5

    Enter the contribution details. For more than one section 721(c) property, give line 5 information for each and indicate whether the gain deferral method is applied. Under the tiered partnership rules, identify all upper- and lower-tier partnerships.

  6. 6

    Sign

    The consenting taxpayer signs and dates. A spouse signs for a joint return, a responsible officer for a corporation, and a representative only with authority under a power of attorney.

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How to file it and what to attach

Gain deferral contributions

The instructions say to attach Form 8838-P to the U.S. transferor's income tax return for the tax year in which the gain deferral contribution is made and annually as required under Regulations section 1.721(c)-6(b)(5).

Other contributions

For a contribution of section 721(c) property that isn't a gain deferral contribution, attach it to the return for the tax year in which the contribution is made.

If the consent is not made

The instructions say that for a gain deferral contribution, failing to extend the period as required results in gain recognition. For other contributions, failing to file may be an acceleration event for a gain deferral contribution made within the five prior partnership tax years.

Attachments

An attorney or agent attaches a copy of Form 2848. A trustee attaches Form 56 and the trust instrument. An executor or administrator attaches Form 56 and the certified copy of letters of testamentary or court certificate.

Refund claims

Line 3 says the consenting taxpayer(s) may file a claim for credit or refund for tax assessed under the consent within 6 months after the extended assessment period ends.

Related forms

Who files Form 8838-P?

  • U.S. citizens and residents

    The instructions list a citizen or resident of the United States as a U.S. transferor.

  • Domestic corporations

    A domestic corporation is a U.S. transferor. The instructions say a responsible officer of the corporation signs and shows his or her title.

  • Estates and trusts

    Any estate or trust other than a foreign estate or trust under section 7701(a)(31). A trustee or executor who signs attaches Form 56 and the documents the instructions list.

  • Joint return filers

    If the consent covers a year with a joint income tax return, the instructions say both spouses sign, unless one, acting under a power of attorney, signs as agent for the other.

  • Attorneys and agents

    An attorney or agent may sign if a power of attorney specifically authorizes it. The instructions say to attach a copy of Form 2848.

The instructions say a U.S. transferor files Form 8838-P to apply the gain deferral method on a contribution of section 721(c) property to a section 721(c) partnership.

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Questions about Form 8838-P

Who files Form 8838-P?

A U.S. transferor applying the gain deferral method on a contribution of section 721(c) property to a section 721(c) partnership. The instructions say this includes U.S. citizens and residents, domestic corporations, and estates and trusts that are not foreign.

Is Form 8838-P mailed on its own?

No. The form says "Attach to your income tax return," and the instructions say it goes with the U.S. transferor's income tax return.

Is the consent required?

The instructions say a taxpayer isn't required to extend the period under the form's terms, but for a gain deferral contribution, failing to do so as required under Regulations section 1.721(c)-6(b)(5) results in gain recognition.

Where are the instructions for Form 8838-P?

They are printed on page 2 of the form itself. The form points to www.irs.gov/Form8865 for the latest information.

Who signs for a joint return?

The instructions say both spouses sign, unless one, acting under a power of attorney, signs as agent for the other.

Can a refund be claimed for tax assessed under the consent?

Line 3 says the consenting taxpayer(s) may file a claim for credit or refund within 6 months after the extended assessment period ends.