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Updated over 7 years ago on . Most recent reply presented by

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20
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24
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Suvir Salins
  • Rental Property Investor
  • Wentworth Falls, NSW
24
Votes |
20
Posts

LLC owned by an Australian Family Trust - tax return questions

Suvir Salins
  • Rental Property Investor
  • Wentworth Falls, NSW
Posted

Hi BP Community.  I have a CPA but there seem to be a few questions around which tax return forms to file regarding my particular situation.  So I thought I'd put it out there to see if the BP community could bring some clarity to the situation, especially if your an Aussie with the same setup or a tax specialist who understands non-resident requirements.  

We have a LLC which is owned by our Australian family trust. I'm the LLC member/manager. The LLC has an EIN. Our primary business is real estate investing.

Come tax time our understanding is that we'd file a 1040NR.  Also believe we have to complete the 1040 schedule E for the RE investing.  Is it correct that given we've got an EIN we don't need to submit the W-8ECI? Do we also need to complete a 1041 for our Australian trust or is that only for US trusts?

Thanks in advance.

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