Hello Community,
Last year was the first time I filed a tax return in US, for 2023 in this case. This return was prepared by Ernst&Young on my behalf.
I have several QBU properties abroad and I can see a Form 8858 was filed last year for each of them as 'FB of a US person'.
When I print out my return for 2024, there are no Forms 8858 in it.
Can anyone please confirm I only need to file the 8858s again when I close my Foreign Branches? I am asking because in the actual form there are checkboxes to indicate the form corresponds to either "Initial Form 8858" or "Final Form 8858", so as I plan to keep my FBs I do not have an option to report this form in 2024.
Is my understanding correct?
Thanks!
