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I filed Form 8832 and selected 'foreign eligible entity' — but I'm a foreign owner of a US LLC. Did I make a mistake?
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I'm a German citizen who formed an LLC in Delaware. I wanted to elect corporate tax treatment so I filed Form 8832. Since I'm a foreign person, I selected 'foreign eligible entity' on the form. My accountant just told me this might be wrong. Is it? What should I do?
Related Questions
I elected corporate treatment 2 years ago via Form 8832. Can I switch back to disregarded entity?
Two years ago I filed Form 8832 to have my single-member LLC taxed as a corporation. It turns out the corporate tax treatment isn't working well for my situation and I want to go back to being a disregarded entity. Can I file another Form 8832 to change back? Or am I stuck for a certain period?
Form 8832 asks about number of owners — how does that affect my classification options?
I'm filling out Form 8832 for my LLC and line 3 asks if I have more than one owner. I'm the only owner. How does answering 'No' change what classifications I can elect? Also, if I add a partner later, do I need to file a new Form 8832?
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