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I am search for an answer for my form 1065. My

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My llc(partnership) doesn't have any revenue at all in 2017, and I am a foreign partner, I have another domestic partner, in this case, do we need to file 8804 and 8805?

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Customer reply replied 4 months ago
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Answered in 9 minutes by:
3/22/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,275
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help you.
The 8805 and 8804 is not required unless you have income. The forms are supposed to withhold for a foreign entity. If there is no revenue, no withholding is needed.
Here's the instruction wording: "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. The
partnership must also file a Form 8805
for each partner on whose behalf it paid
section 1446 tax, regardless of whether
the partnership made any distributions
during its tax year. The partnership can
designate a person to file the forms. The
partnership, or person it designates,
must file these forms even if the
partnership has no withholding"
Let me know if you need anything else. If not, please leave a rating. Thanks!
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,275
Experience: Adjunct Professor
Verified
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Customer reply replied 4 months ago
Hi Carter, Thanks for the answer, in this case, on form 1065 Schedule B, question 16: Does the partnership have any foreign partners? If “Yes,” enter the number of Forms 8805, Foreign Partner’s Information Statement of Section 1446 Withholding Tax, filed for.
I answered Yes for this question, since I am a foreign partner. How do I answer "enter the number of Forms 8805, Foreign Partner’s Information Statement of Section 1446 Withholding Tax, filed for. "Thank you
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