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Deductions & credits
Thanks Vanessa! Two follow-up questions:
1. Does the IRS consider a foreign company, in this case a Romanian SRL, a pass-through entity for tax purposes? I.e., if I haven't taken out any earnings but the SRL has a profit, is that profit considered income?
2. As owner of the SRL, I assume that I would be responsible for issuing a 1099-MISC to myself, correct?
Thanks again!
-Bob
‎January 17, 2022
8:20 AM