Hi, I have a LLC and my wife and I are the owners, IRS send a letter mention that we have ECGI (Effectively connected gross income) we need to fill some additional forms.
They mention if we are non-publicy trader partnerships (and ask to fill forms 8804,8805,8813) or if we are publicy traded partneship (we need to fill the forms 1042,1042-t,1042-s)
Basically our LLC has a house rented and some minor investments in stocks. Because of the HOA, Landfee and some extra costs that I have in the house we are getting loss in the company.
What should I do?
In the end of the letter they mention to visit www.irs.gov/cp282 or publication 515
I used the package from turbotax to deliver the forms and etc.
