do I file 1065 for foreign based partnership if all income and taxes are paid outside of USA?
Was the partnership formed in the US?
no it was created in Italy as an srls(simple LLC basically)
income/losses are filed in Italy as well, but I would like to use the losses on in the usa
The Italian partnership, if not treated as a corporation in Italy should give your US partners some sort of statement of income to report on their US returns.
