FORGIN LLC

Hi,

LLC is owned by a forgin coporation that was registered in another country

What tax form do i need to use to report this LLC income tax.

252

Expert Alumni

Feb 28, 2024 6:41:40 AM

An LLC registered in the US has to file form 1065 for its tax return.

If it's elected to be taxed as a C-Corp, the tax return is form 1120.

If it's elected to be taxed as a S-Corp, the tax return is form 1120S.

This applies to all LLCs, even when owned by a foreign corporation.

Returning Member

Feb 28, 2024 3:41:21 PM

Thank you!

One member LLC files schedule C of 1040. but this LLC is owned by one corporation that is registed in another coountry.

Expert Alumni

Feb 28, 2024 5:35:30 PM

You will need to file a Form 5472, which is not a form supported by TurboTax. More information about that form can be found HERE.