Client 1031'd into a Delaware Statutory Trust (DST) a few years back and has been reporting on Sch E ever since. Brought his tax information in and saw that during 2021, "contributed" properties to a newly formed Delaware Limited Partnership. As a result, he was credited with a capital contribution to the Partnership.
Based on the literature provided and my quick research, looks like a Section 721 non-taxable transaction as treated as tax-deferred contribution of properties of the DST to a REIT partnership. I don't see any settlement statements like I would receive for a 1031 exchange; so, it appears there is no tax reporting requirement? I haven't found any reference to use any tax forms to report like a 1031 transaction.
The only reporting would be the income generated and reported via the K-1?