Discussion:E-2 Status Non Resident Alien Reports LLC Losses
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Discussion Forum Index --> Advanced Tax Questions --> E-2 Status Non Resident Alien Reports LLC Losses
Discussion Forum Index --> Tax Questions --> E-2 Status Non Resident Alien Reports LLC Losses
Barbeque17 (talk|edits) said: | 21 January 2008 |
| Hi all,
E-2 Investor residency status client is a 51% owner of a CA LLC. The LLC is generating losses. It is my understanding that the filing of a 1040NR is not required when effectively connected income is below a certain level. How then can these LLC losses be reported and carried forward. Thanks | |
LKfromCANADA (talk|edits) said: | 21 January 2008 |
| You can still file a return to report the loss and establish a net operating loss or passive activity loss carryforward. We do it all the time. | |
Barbeque17 (talk|edits) said: | 21 January 2008 |
| thanks | |
Nonresalien (talk|edits) said: | 17 April 2008 |
| Hi, I am a non res alien who has a CA single member LLC and is applying for an E-2 visa. The question I have, is can a single member LLC that is held buy a non res alien buy 50 % share in a S-Corp? I know that a non res alien cannot, but a single member llc can. Any help is appreciated. | |
| 17 April 2008 | |
| No, the single member LLC of a nonresident alien cannot own an interest in an S corporation without terminating the "S" status. | |
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