My client is a foreign national that has a distribution company in the US that is an LLC, Do I use the normal 1065 to do the company 2019 tax return ?

Forum|Forum|6 years ago
June 18, 2020
3 replies
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itonewbie

Level 15

1065 is for partnership. Is the US LLC owned by more than one person? If not, the US LLC is an SMLLC, which is a DRE. This would mean that income/expenses of the SMLLC should be reported on the foreign national's return (1040-NR for NRA and 1040 for resident alien). If the foreign national is an NRA, there will be some important additional reporting and filing requirements; see this recent discussion for more details: https://proconnect.intuit.com/community/proconnect-tax-online-discussions/discussion/does-proconnect-include-a-form-5472-info-return-for-foreign/00/88260

---------------------------------------------------------------------------------Still an AllStar

D

Dak2019Author

Level 3

The client is a partnership LLC its a father and son and neither of them are US citizens and residents. How do I treat this return?

itonewbie

Level 15

1065 will need to be filed since this is a partnership and there will be various withholding requirements for US-ECI and FDAP with respect to these foreign partners.

---------------------------------------------------------------------------------Still an AllStar

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