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1065 for foreign based partnership(all us citizen owners)

mb9
Level 1

do I file 1065 for foreign based partnership if all income and taxes are paid outside of USA?

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3 Comments 3
sjrcpa
Level 15

Was the partnership formed in the US?


Ex-AllStar
mb9
Level 1

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

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sjrcpa
Level 15

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.


Ex-AllStar