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D Form 8804 and 8805 need to be filed for a foreign

partnership if the partnership posted...
D Form 8804 and 8805 need to be filed for a foreign partnership if the partnership posted a loss for the year?
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Customer reply replied 8 months ago
Sorry - computer glitch. Here's what I was trying to ask: Do forms 8804 and 8805 need to filed for foreign partner if the partnership posted a loss of the year?
Answered in 7 minutes by:
9/9/2017
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,995
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Every partnership (other than a publicly traded partnership) that has effectively connected gross income allocable to a foreign partner must file a Form 8804, regardless of whether it had ECTI allocable to a foreign partner.

https://www.irs.gov/pub/irs-pdf/i8804.pdf

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 8 months ago
Does this mean that you are required to file the return if the partnership posted a loss?
Customer reply replied 8 months ago
I mean file the forms?

Did the partnership have GROSS income?

If so, yes.

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Customer reply replied 8 months ago
Sorry, I'm not understanding you. The partnership has negative gross income. Does that mean the form needs to be filed?

Negative gross income or a loss?

For example, gross income of $100,000 minus $125,000 in expenses would be a loss of $25,000.

But there is still gross income of $100,000.

Make sense?

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Customer reply replied 8 months ago
Ah, sorry! Got it. Thanks so much!

Not a problem. It's been my pleasure.

Please take a moment to rate my answer since that is the only way I receive credit for answering you.

Have a great weekend!

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,995
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