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Form 8832 AR: What You Should Know
How Do I Know If I'm An entity With a Corporate Status? A sole proprietorship, C-Corporation, S-Corporation and LLP do not have to fill out Form 8832, unless: 1) A member of the LLC, C-Corp, or S-Corp owns 20% or more of any class of stock of the entity, 2) The LLC, C-Corp, or S-Corp is a public utility owned by the LLC, C-Corp, or S-Corp, or 3) the LLC, C-Corp, or S-Corp is an exempt organization. I'm an entity that makes no more than 5 million in “investments” in another entity. I have been doing nothing for more than a year on it. What is my federal status? If I make your life easier by calling you, and you simply give me an answer, that answer is a YES. If you don't know for sure, don't make this a tax obligation. If you answer correctly, I will need a signed acknowledgment that I got the answer. Don't assume it must be true, or I will do it anyway. You can get an email from me every week asking you whether I can do it for you next time, and you can refuse. In that case I will assume it is true. What is an investment? I'll use your 12,000 on the first box in column A to represent all the cash, cash equivalents (cash in your bank), short-term investments (stocks, bonds, etc) and long-term investments (bonds, certificates of deposit, real estate). I'll use your 2,000 on the first box in column B to represent any of the shares you own in another limited liability company or C-Corporation. Furthermore, I'll use the same 12,000, your cash equivalents, securities that hold a particular income stream such as interest, dividends, rental income, royalty income and long-term capital gains or losses, minus your cash. In column C I'll add this: If you have a spouse that is over 65, you will add their 500,000, your cash. What is an investment that holds interest or dividends? In column D I add your securities and cash equivalents (in columns A and B) minus the 12,000 (in column A) that represents your investment.
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