Contact UsClient opened store abroad (not incorporated) and reports income and expenses together on Schedule C (sole-prop), do we need to file Form 8858?
Form 8858 (Information Return of U.S. Persons with respect to foreign disregarded entities and foreign branches) is required when separate books and records are maintained and there is a physical presence. There is a physical presence, however, the second store can not exist without the first store financing it as it is operating at a loss. I submitted the Schedule C tax return with an FBAR and no form 8858. Did I go about this correctly? Or do I need to file an amendment?
