If you own 10% or more of a foreign partnership or flow through LLC you must file Form 8865 with your personal Tax Return

Form 8865 is filed with your US tax return if you own 10% or more of a foreign partnership or foreign flow through LLC.  This form shows the income and expense statement of the foreign partnership and the yearly balance sheet. It also reports details of the partnership and your allocable share of the partnerships income.  It is similar to Form 1065 which is filed for a US based partnership or LLC.

You must as a US taxpayer report your wordwide income on your US tax return. If you paid taxes in a foreign country on your share of foreign partnership income, you can then claim those foreign taxes as a credit against your US income federal income taxes on that same income. 

We can help you prepare this tax form even if you have another tax accountant prepare the rest of your US income tax return.  Why? Because most tax preparers have never even heard of this form and do not know how to prepare it.

Some links that will help you learn more about this form are below.



US Expatriate and International Tax Expert