U.S. Citizen is conducting business (not incorporated) abroad, Form 8858 not available in ProConnect

Forum|Forum|3 years ago
April 17, 2023
2 replies
13 views

The business owner has an LLC in the U.S. and sells products abroad. In 2021, the business reported all expenses and sales through the LLC. In 2022, he operated a store abroad (not incorporated abroad) and generated a loss. Since he has separate books now, Form 8858 (Information Return of U.S. Persons with respect to foreign disregarded entities and foreign branches) needs to be filed. I do not see this form available in ProConnect.

ProConnect Tax

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IntuitCharlene

Community Manager

The 8858 would need to be prepared outside of ProConnect Tax.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution" and then just changing the Accept as solution to Mark as Best Answer, mine gets cutoff, so it is too long. I changed mine to the following and it fits. -->**Say "Thanks" by clicking the thumb icon in a post**Click "Mark as Best Answer " to mark the post that answers your question.

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IntJimmy

Level 3

ProConnect Tax Online does not currently support Form 8858. The form will need to be manually prepared and attached to the return. This return will need to be paper filed.

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