Question

When to file Form 8858?

Forum|Forum|1 year ago
March 21, 2025
1 reply
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Hello Community,

Last year was the first time I filed a tax return in US, for 2023 in this case. This return was prepared by Ernst&Young on my behalf.

I have several QBU properties abroad and I can see a Form 8858 was filed last year for each of them as 'FB of a US person'.

When I print out my return for 2024, there are no Forms 8858 in it.

Can anyone please confirm I only need to file the 8858s again when I close my Foreign Branches? I am asking because in the actual form there are checkboxes to indicate the form corresponds to either "Initial Form 8858" or "Final Form 8858", so as I plan to keep my FBs I do not have an option to report this form in 2024.

Is my understanding correct?

Thanks!

DaveF1006

Yes, if you still own the FB, an 8858 is filed annually. TurboTax doesn't support 8858 but there is a way to file this according to TurboTax expert JohnW222. Please read his post here explaining how to file Form 8858, which includes a download of the form to use and where to mail.

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J

JAIME-TITOMALONEAuthor

Thanks @DaveF1006 !

I will be mailing my return since I have to include certain forms not supported by TT. Would I then just add the 8858s to the printed return? I see form 8453 is related to e-filing so I assume I do not need it in my case, physically mailing my return.