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Does proconnect has form 8865? I searched and I cannot find it, but I just want to be sure. If this form is not available, then I have to fill in manually, and then file form 1040 with it by mail?
I could not find the average price on the form. How would that be compared with partnership form 1065?
Thanks a lot!
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Unfortunately, F.8865 is not available in any module for both Lacerte and ProConnect Tax. Availability and status of forms can be found on this Intuit webpage: https://lfs.intuit.com/#/
In the meantime, you can also join the petition drive here. Whatever is for Lacerte would generally be applicable to ProConnect Tax since they run off the same engine: https://proconnect.intuit.com/community/lacerte-tax-idea-exchange/form-8865/idi-p/123913
Still an AllStar
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@itonewbieThank you for answering my question. I am wondering if you have an answer for my other question. Sorry for the intrusiveness, but it is rare that a question left unanswered on this forum.
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NP, @puravidapto. I only just noticed you're referring to preparation fees. I wouldn't think 1065 is a fair comparison for a few reasons:
1) The number of schedules that may need to be completed differ depending on which categories your client belongs to;
2) Additional time and effort will likely be incurred for understanding, reviewing, and analyzing books and records kept in foreign standards; and
3) Translation from whatever FRS the foreign partnership uses to US GAAP may entail engagement of dual-practice accountants overseas.
Still an AllStar
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@itonewbieThank you for answering the second question also in this post, it has good information. I did not mean to bother you with the preparation fee question, but the other question in a separate post in this link. It is more common situation as many people became nonresidents because they could not come back to the US due to COVID-19, what happened with their wages working outside of the US and capital gains?
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