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Updated about 7 years ago,
LLC owned by an Australian Family Trust - tax return questions
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.