Has anybody direct experience of how Revenue treat US LLC's for Irish tax purposes, I understand they regard them as Ltd Co structures but they are not quite like that in the US rather they are pass through entities with the LLC partners filing taxes in the US rather than the LLC filing itself.
Professional advice is being sought but others may have practical real life experience that could help in advance. The LLC owns investment properties. A return of Irish tax paid funds originally used to purchase US assets in the LLC name is due shortly which I assume is not reportable.
The LLC also sold a property which paid CGT in the US, these gains stayed in the LLC account but how do I regard these if at all on my Irish returns.
Mods - perhaps this is better in the overseas property section however the taxation of the LLC vehicle is my interest with the query.
Professional advice is being sought but others may have practical real life experience that could help in advance. The LLC owns investment properties. A return of Irish tax paid funds originally used to purchase US assets in the LLC name is due shortly which I assume is not reportable.
The LLC also sold a property which paid CGT in the US, these gains stayed in the LLC account but how do I regard these if at all on my Irish returns.
Mods - perhaps this is better in the overseas property section however the taxation of the LLC vehicle is my interest with the query.
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