For my foreign-owned LLC, do I really leave almost all of Form 1120 blank?
I am in Brazil and my accountant told me the Form 1120 for my foreign-owned single-member LLC is basically just a pro forma cover form with Form 5472 attached. That sounds strange because when I look online, almost every Form 1120 guide talks about a full corporate return with income and deductions.
I want to make sure we are not skipping something important. The LLC is disregarded, wholly foreign-owned, and has around $22,000 in revenue with owner-funded startup costs.
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