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M
mb9
Level 2
July 29, 2024
Question

1065 for foreign based partnership(all us citizen owners)

  • July 29, 2024
  • 1 reply
  • 4 views

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

    This topic has been closed for replies.

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    July 29, 2024

    Was the partnership formed in the US?

    The more I know the more I don’t know.
      M
      mb9Author
      Level 2
      July 29, 2024

      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

      sjrcpa
      sjrcpa
      Level 15
      July 29, 2024

      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.

      The more I know the more I don’t know.
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