When to file Form 8858?

[JAIME-TITOMALONE]

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!

[DaveF1006]

Yes, if you still own the FB, an 8858 is filed annually. TurboTax doesn't support 8858 but there is a way to file this according to TurboTax expert JohnW222.  Please read his post here explaining how to file Form 8858, which includes a download of the form to use and where to mail.

[JAIME-TITOMALONE]

Thanks @DaveF1006 !

I will be mailing my return since I have to include certain forms not supported by TT. Would I then just add the 8858s to the printed return? I see form 8453 is related to e-filing so I assume I do not need it in my case, physically mailing my return. 

[DaveF1006]

Yes, this is correct. You will just need to add form 8858 to your return and this will suffice.