It's at the end of the sheet that says Enterprise instructions: "If you aquired your units by purchase or by inheritance, you must include the IRC Section 754 Statement stated below in your income tax return for the first year you became a partner".
There is a similar statement Section 751 required for people who sell their shares. What a hassle.
The 754 statement would be necessary to gain a stepped basis on the inheritance. You would need to do it if you did not go through the company and get the units transferred and the basis updated for tax purposes. This is certainly obscure and only effects a very few. My local office suggested simply attaching a statement saying when and how the units were acquired along with the unit price on that date. They also said I would need to go through the company to get the capital account(tax) basis straightened out and if I did that the 754 statement was not necessary.
I have bought and sold many MLP units and never done a 751 statement. Went to my local IRS office (I work downstairs) and they did not know what a 751 statement was. I have never heard of it or included one.
Me thinks there is much ado about something of little importance.