Taxation of Foreign Partnerships and How to Report the Information Required by Form 8865 (Completed)

U.S. persons with significant interests in foreign partnerships must generally file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships annually. This Form is used to report information with respect to controlled foreign partnerships, transfers to foreign partnerships and acquisitions, dispositions, and other changes in foreign partnership interests.

Topics Covered

• Determining if a foreign entity is a partnership
• Determining the proper filing categories
• Creditability of foreign taxes
• Reporting intercompany transactions on Schedule N
• The mysteries of Schedules K-2 and K-3
• Completing a sample Form 8865

Learning Objectives

• Develop a practical understanding of U.S. international tax rules with respect to foreign partnerships
• Understand the laws behind the information put on Form 8865
• Understand the schedules to properly file Form 8865

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None