foreign office of an S corp and Single member Foreign LLC

Technical topics regarding tax preparation.
#1
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26-May-2016 12:01pm
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Oregon
Hi,

The S corp 's all income is from overseas sales. it also has a foreign office. I check the 1120s, there is only an sch K for foreign transactions ( Sch KFT). My understanding is SCh K is used to report the foreign office transaction only. Other oversea sales just report in the normal way, correct?

S corp also owns a foreign single member LLC ( S corp is the only member), any particular report requirements? ( 2 members LLC form 8865, corp form 5471) but what form disregarded entity?

I did some research, it says will need to file form 8832, 8858, however, it didn't file 8832, then it will be treated as a corp? I will rather treat it as a corp then can file form 5471, 8865, 8858 are not provided in Drake software.

Also, this one member foreign LLC has terminated in 2017, didn't make any profits since operated, So I just simply write off the investment and recognized it as a long-term capital loss, right?

Thank you for the help.
 

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