You'll need to sign in or create an account to connect with an expert.
If the entity is an independent entity i.e.a corporation that exists independent of the owner(s), then at the individual level the only tax reponsibility is on all the income you receive ( whether distributed and/or re-invested). Since per your post you did not receive anything, there is nothing to report. However, I would strongly suggest that you make sure that this is a corporation ( has a life outside of you and can exist even when you are not ), as the rules for LLCs/ Partnerships/ S-Corp are very different from C-Corps-- for US taxation. Also note that you may still be subject to FBAR and/ or FATCA requirements.
What country and what is the type of entity called in that country ( what type GmbH, Ltd., Company, SA etc. etc. ) ?
If the entity is an independent entity i.e.a corporation that exists independent of the owner(s), then at the individual level the only tax reponsibility is on all the income you receive ( whether distributed and/or re-invested). Since per your post you did not receive anything, there is nothing to report. However, I would strongly suggest that you make sure that this is a corporation ( has a life outside of you and can exist even when you are not ), as the rules for LLCs/ Partnerships/ S-Corp are very different from C-Corps-- for US taxation. Also note that you may still be subject to FBAR and/ or FATCA requirements.
What country and what is the type of entity called in that country ( what type GmbH, Ltd., Company, SA etc. etc. ) ?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
alohaTy
Level 3
NICAAC
Level 1
Wambats
Level 2
matthewpetty992
New Member
ctdkite
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.